Reliance, Inc. (NYSE:RS) Stock Position Decreased by Deutsche Bank AG

Deutsche Bank AG decreased its position in Reliance, Inc. (NYSE:RS) by 22.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 102,560 shares of the industrial products company’s stock after selling 30,320 shares during the quarter. Deutsche Bank AG’s holdings in Reliance were worth $27,615,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Quent Capital LLC lifted its stake in Reliance by 4.1% in the fourth quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 37 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Reliance by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company’s stock valued at $3,002,000 after purchasing an additional 39 shares in the last quarter. Townsquare Capital LLC lifted its stake in shares of Reliance by 3.1% in the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 40 shares during the last quarter. Forum Financial Management LP boosted its holdings in Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company’s stock worth $436,000 after purchasing an additional 44 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Up 0.1%

NYSE:RS opened at $299.45 on Thursday. The company’s 50 day moving average is $284.02 and its 200-day moving average is $289.93. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 19.39 and a beta of 0.91.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, topping the consensus estimate of $3.66 by $0.11. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.30 EPS. Equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.60%. Reliance’s dividend payout ratio is presently 34.41%.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares in the company, valued at $27,115,919.60. This trade represents a 25.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, KeyCorp raised their target price on Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and a consensus price target of $319.00.

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.