Reliance, Inc. (NYSE:RS) Shares Purchased by Curi RMB Capital LLC

Curi RMB Capital LLC boosted its stake in Reliance, Inc. (NYSE:RS) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,637 shares of the industrial products company’s stock after acquiring an additional 155 shares during the period. Curi RMB Capital LLC’s holdings in Reliance were worth $2,209,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RS. Trust Point Inc. increased its position in Reliance by 3.6% during the 3rd quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 34 shares during the period. National Bank of Canada FI increased its position in Reliance by 17.9% during the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 41 shares during the period. Fulton Bank N.A. increased its position in Reliance by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock worth $454,000 after purchasing an additional 47 shares during the period. Consolidated Planning Corp increased its position in Reliance by 7.1% during the 2nd quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 50 shares during the period. Finally, UMB Bank n.a. increased its position in Reliance by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Price Performance

RS stock opened at $310.33 on Friday. Reliance, Inc. has a 52-week low of $261.77 and a 52-week high of $342.20. The stock’s fifty day simple moving average is $291.32 and its 200-day simple moving average is $289.95. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 17.04 and a beta of 0.85.

Reliance (NYSE:RS) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business earned $5.00 EPS. Reliance’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts expect that Reliance, Inc. will post 16.45 EPS for the current year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, November 22nd. Reliance’s payout ratio is currently 24.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RS. BMO Capital Markets decreased their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. KeyCorp reduced their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Reliance presently has a consensus rating of “Hold” and an average target price of $326.40.

Insider Activity at Reliance

In other Reliance news, SVP William A. Smith II sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total value of $2,091,115.00. Following the transaction, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at $5,420,491.79. This trade represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark V. Kaminski sold 5,000 shares of Reliance stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,832 shares of company stock worth $5,595,881. 0.69% of the stock is owned by insiders.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.