Commerzbank Aktiengesellschaft FI Buys Shares of 862 Reliance, Inc. (NYSE:RS)

Commerzbank Aktiengesellschaft FI bought a new stake in shares of Reliance, Inc. (NYSE:RS) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 862 shares of the industrial products company’s stock, valued at approximately $242,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp purchased a new position in Reliance during the 3rd quarter valued at about $33,000. Catalyst Capital Advisors LLC purchased a new position in Reliance during the 3rd quarter valued at about $33,000. Altshuler Shaham Ltd increased its holdings in Reliance by 183.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 134 shares in the last quarter. UMB Bank n.a. increased its holdings in Reliance by 26.4% during the 3rd quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 48 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Reliance by 187.9% during the 4th quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 186 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Up 0.1 %

Shares of NYSE:RS opened at $319.76 on Tuesday. The company has a current ratio of 5.66, a quick ratio of 3.23 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $324.81 and a 200 day simple moving average of $290.87. The firm has a market cap of $18.36 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 5.63 and a beta of 0.87. Reliance, Inc. has a 12-month low of $229.12 and a 12-month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.81. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.31 billion. Reliance had a net margin of 9.02% and a return on equity of 17.53%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.87 earnings per share. On average, equities research analysts anticipate that Reliance, Inc. will post 19.51 EPS for the current fiscal year.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.10 per share. This is an increase from Reliance’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.40 annualized dividend and a dividend yield of 1.38%. Reliance’s payout ratio is 19.46%.

Analyst Ratings Changes

Several research firms have issued reports on RS. BMO Capital Markets raised their price target on shares of Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and raised their price target for the stock from $280.00 to $380.00 in a research note on Thursday, April 11th. Finally, KeyCorp lifted their price target on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.67.

Insider Activity

In related news, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the sale, the chief executive officer now owns 83,884 shares of the company’s stock, valued at $27,091,176.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the sale, the chief executive officer now owns 83,884 shares of the company’s stock, valued at $27,091,176.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Arthur Ajemyan sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total transaction of $968,850.00. Following the completion of the sale, the chief financial officer now owns 15,577 shares in the company, valued at $5,030,592.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,996 shares of company stock valued at $27,603,878. 0.69% of the stock is currently owned by company insiders.

Reliance Company Profile

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.