Certuity LLC Invests $264,000 in Reliance, Inc. (NYSE:RS)

Certuity LLC acquired a new stake in shares of Reliance, Inc. (NYSE:RS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 944 shares of the industrial products company’s stock, valued at approximately $264,000.

Several other large investors have also recently added to or reduced their stakes in RS. Lindbrook Capital LLC boosted its stake in Reliance by 8.4% in the fourth quarter. Lindbrook Capital LLC now owns 480 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 37 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Reliance by 11.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 444 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 44 shares during the last quarter. Paulson Wealth Management Inc. grew its stake in Reliance by 3.3% in the third quarter. Paulson Wealth Management Inc. now owns 1,361 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 44 shares in the last quarter. Arizona State Retirement System lifted its stake in Reliance by 0.3% in the fourth quarter. Arizona State Retirement System now owns 16,094 shares of the industrial products company’s stock valued at $4,501,000 after acquiring an additional 54 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC raised its stake in Reliance by 0.3% in the third quarter. Robertson Stephens Wealth Management LLC now owns 17,250 shares of the industrial products company’s stock valued at $4,523,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In other Reliance news, CEO Karla R. Lewis sold 42,346 shares of Reliance stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total value of $13,507,103.62. Following the completion of the transaction, the chief executive officer now directly owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James Donald Hoffman sold 40,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total transaction of $12,918,000.00. Following the sale, the director now owns 54,042 shares in the company, valued at approximately $17,452,863.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Karla R. Lewis sold 42,346 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the transaction, the chief executive officer now owns 84,534 shares of the company’s stock, valued at $26,963,809.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,996 shares of company stock worth $27,603,878. Corporate insiders own 0.69% of the company’s stock.

Reliance Stock Performance

NYSE:RS opened at $286.27 on Thursday. The company has a current ratio of 5.74, a quick ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $322.85 and a 200 day simple moving average of $292.45. Reliance, Inc. has a 1-year low of $229.12 and a 1-year high of $342.20. The stock has a market cap of $16.44 billion, a P/E ratio of 13.37, a PEG ratio of 4.99 and a beta of 0.92.

Reliance (NYSE:RS) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). Reliance had a return on equity of 16.26% and a net margin of 8.67%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the business posted $6.37 EPS. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. Research analysts anticipate that Reliance, Inc. will post 19.6 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Thursday, May 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.54%. Reliance’s dividend payout ratio is presently 20.55%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. KeyCorp lifted their target price on Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Reliance from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and raised their target price for the stock from $280.00 to $380.00 in a research note on Thursday, April 11th. Finally, BMO Capital Markets decreased their price target on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th.

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.