Royal London Asset Management Ltd. Sells 42,176 Shares of Reliance, Inc. (NYSE:RS)

Royal London Asset Management Ltd. lowered its holdings in shares of Reliance, Inc. (NYSE:RSFree Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 940,368 shares of the industrial products company’s stock after selling 42,176 shares during the period. Reliance comprises 0.7% of Royal London Asset Management Ltd.’s holdings, making the stock its 25th largest holding. Royal London Asset Management Ltd. owned about 1.64% of Reliance worth $263,002,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RS. Catalyst Capital Advisors LLC acquired a new position in shares of Reliance in the 3rd quarter worth approximately $33,000. Partnership Wealth Management LLC bought a new stake in Reliance during the fourth quarter valued at $43,000. Altshuler Shaham Ltd boosted its position in Reliance by 183.6% during the third 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 during the last quarter. Blue Trust Inc. grew its holdings in 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 acquiring an additional 186 shares during the period. Finally, Planned Solutions Inc. bought a new position in shares of Reliance in the 4th quarter worth about $89,000. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Down 0.9 %

Shares of RS traded down $2.38 during trading hours on Friday, reaching $277.09. 423,959 shares of the stock traded hands, compared to its average volume of 339,382. Reliance, Inc. has a 52 week low of $237.14 and a 52 week high of $342.20. 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 fifty day simple moving average of $301.18 and a 200 day simple moving average of $299.55. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 6.45 and a beta of 0.90.

Reliance (NYSE:RSGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.30 EPS 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 business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the business posted $6.37 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year. On average, equities analysts forecast that Reliance, Inc. will post 18.77 EPS for the current year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, May 23rd. Reliance’s dividend payout ratio is currently 20.55%.

Analyst Ratings Changes

Several research firms have recently weighed in on RS. BMO Capital Markets lowered their price objective on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. StockNews.com downgraded shares of Reliance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $280.00 to $380.00 in a research report on Thursday, April 11th.

Get Our Latest Analysis on RS

Insiders Place Their Bets

In related news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the completion of the transaction, the chief operating officer now directly owns 7,552 shares in the company, valued at approximately $2,230,709.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Reliance news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $295.38, for a total transaction of $6,031,954.98. Following the completion of the transaction, the chief operating officer now owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Donald Hoffman sold 5,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $294.36, for a total value of $1,471,800.00. Following the sale, the director now owns 34,042 shares in the company, valued at $10,020,603.12. The disclosure for this sale can be found here. Insiders sold 40,421 shares of company stock valued at $11,866,855 over the last ninety days. 0.69% of the stock is currently owned by insiders.

Reliance Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Reliance (NYSE:RS)

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