Yousif Capital Management LLC Sells 661 Shares of Reliance, Inc. (NYSE:RS)

Yousif Capital Management LLC lowered its position in shares of Reliance, Inc. (NYSE:RS) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,234 shares of the industrial products company’s stock after selling 661 shares during the period. Yousif Capital Management LLC’s holdings in Reliance were worth $7,896,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Millburn Ridgefield Corp bought a new stake in shares of Reliance in the 3rd quarter valued at about $33,000. Catalyst Capital Advisors LLC bought a new stake in shares of Reliance in the 3rd quarter valued at about $33,000. Altshuler Shaham Ltd grew its position in shares of Reliance by 183.6% in the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after buying an additional 134 shares during the last quarter. UMB Bank n.a. grew its position in shares of Reliance by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock valued at $60,000 after buying an additional 48 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Reliance by 187.9% in the 4th quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after buying an additional 186 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

RS has been the topic of a number of analyst reports. KeyCorp upped their price target on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. BMO Capital Markets upped their price target on Reliance from $295.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and upped their target price for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.67.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total transaction of $968,850.00. Following the transaction, the chief financial officer now directly owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Arthur Ajemyan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total transaction of $968,850.00. Following the transaction, the chief financial officer now directly owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Donald Hoffman sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following the transaction, the director now directly owns 54,042 shares in the company, valued at $17,452,863.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,996 shares of company stock valued at $27,603,878. 0.69% of the stock is owned by company insiders.

Reliance Stock Down 0.1 %

Shares of Reliance stock opened at $313.56 on Thursday. Reliance, Inc. has a one year low of $229.12 and a one year high of $342.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.66 and a quick ratio of 3.23. The stock’s 50-day moving average is $325.31 and its 200 day moving average is $291.25. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 5.53 and a beta of 0.87.

Reliance (NYSE:RS) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.18). Reliance had a net margin of 9.02% and a return on equity of 17.53%. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company earned $6.37 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities research analysts anticipate that Reliance, Inc. will post 19.51 EPS for the current year.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $1.10 per share. This is an increase from Reliance’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 7th. Reliance’s dividend payout ratio is 19.46%.

Reliance 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.