974 Shares in Reliance, Inc. (NYSE:RS) Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC purchased a new stake in shares of Reliance, Inc. (NYSE:RS) during the 3rd quarter, HoldingsChannel reports. The fund purchased 974 shares of the industrial products company’s stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RS. Cynosure Group LLC raised its holdings in shares of Reliance by 13.5% in the 3rd quarter. Cynosure Group LLC now owns 1,518 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 180 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Reliance during the 3rd quarter worth $78,000. Loomis Sayles & Co. L P increased its stake in Reliance by 1.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 46,573 shares of the industrial products company’s stock worth $13,469,000 after purchasing an additional 572 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Reliance in the third quarter worth approximately $429,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Reliance by 4.8% during the third quarter. Fisher Asset Management LLC now owns 6,518 shares of the industrial products company’s stock valued at $1,885,000 after acquiring an additional 296 shares during the period. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other news, SVP William A. Smith II sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the sale, the senior vice president now owns 16,849 shares in the company, valued at approximately $5,420,491.79. This represents a 27.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 6,332 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total value of $2,014,715.76. Following the completion of the transaction, the chief financial officer now directly owns 9,245 shares in the company, valued at $2,941,574.10. The trade was a 40.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,832 shares of company stock worth $5,595,881 over the last ninety days. 0.69% of the stock is currently owned by insiders.

Reliance Trading Down 0.4 %

Shares of NYSE:RS opened at $321.24 on Friday. The firm has a fifty day moving average of $299.47 and a two-hundred day moving average of $291.80. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. Reliance, Inc. has a 12-month low of $261.77 and a 12-month high of $342.20. The firm has a market capitalization of $17.39 billion, a P/E ratio of 17.64 and a beta of 0.85.

Reliance (NYSE:RS) last issued its earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the firm earned $5.00 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts expect that Reliance, Inc. will post 16.42 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s payout ratio is presently 24.16%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. KeyCorp lowered their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and an average target price of $326.40.

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.