Evexia Wealth LLC Has $2.60 Million Stock Position in Reliance, Inc. (NYSE:RS)

Evexia Wealth LLC raised its holdings in shares of Reliance, Inc. (NYSE:RS) by 2.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,972 shares of the industrial products company’s stock after buying an additional 249 shares during the quarter. Evexia Wealth LLC’s holdings in Reliance were worth $2,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Reliance by 12.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,671 shares of the industrial products company’s stock worth $3,824,000 after purchasing an additional 1,502 shares during the last quarter. Lincoln National Corp grew its position in Reliance by 24.8% during the fourth quarter. Lincoln National Corp now owns 1,197 shares of the industrial products company’s stock worth $335,000 after buying an additional 238 shares in the last quarter. Private Advisor Group LLC increased its stake in Reliance by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 3,600 shares of the industrial products company’s stock valued at $1,007,000 after acquiring an additional 224 shares during the period. Metis Global Partners LLC raised its holdings in Reliance by 5.8% in the 4th quarter. Metis Global Partners LLC now owns 2,446 shares of the industrial products company’s stock valued at $684,000 after acquiring an additional 135 shares in the last quarter. Finally, Gallacher Capital Management LLC lifted its position in shares of Reliance by 64.1% in the 4th quarter. Gallacher Capital Management LLC now owns 1,347 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 526 shares during the period. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. KeyCorp boosted their price objective on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. StockNews.com raised shares of Reliance from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets reduced their price objective on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Citigroup cut shares of 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 note on Thursday, April 11th.

Reliance Price Performance

RS stock traded up $3.25 during trading on Tuesday, hitting $295.41. The company had a trading volume of 438,149 shares, compared to its average volume of 256,546. 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 company has a fifty day moving average price of $319.77 and a two-hundred day moving average price of $293.74. Reliance, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $342.20. The company has a market cap of $16.97 billion, a P/E ratio of 13.80, a P/E/G ratio of 5.08 and a beta of 0.92.

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

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance’s dividend payout ratio (DPR) is currently 20.55%.

Insider Transactions at Reliance

In related news, Director James Donald Hoffman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the completion of the sale, the director now directly owns 49,042 shares of the company’s stock, valued at approximately $14,212,862.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Reliance news, CEO Karla R. Lewis sold 650 shares of the business’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 transaction, the chief executive officer now directly owns 83,884 shares of the company’s stock, valued at $27,091,176.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Donald Hoffman sold 5,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the sale, the director now directly owns 49,042 shares in the company, valued at $14,212,862.02. The disclosure for this sale can be found here. Insiders have sold 100,996 shares of company stock valued at $31,966,978 in the last three months. 0.69% of the stock is owned by corporate 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.