Oliver Luxxe Assets LLC Has $5.70 Million Position in Reliance, Inc. (NYSE:RS)

Oliver Luxxe Assets LLC increased its position in shares of Reliance, Inc. (NYSE:RS) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,176 shares of the industrial products company’s stock after acquiring an additional 1,002 shares during the quarter. Reliance comprises approximately 1.0% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 28th biggest holding. Oliver Luxxe Assets LLC’s holdings in Reliance were worth $5,702,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RS. Dimensional Fund Advisors LP boosted its holdings in shares of Reliance by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company’s stock valued at $333,809,000 after buying an additional 53,747 shares during the period. Principal Financial Group Inc. boosted its stake in Reliance by 19.7% in the 3rd quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock worth $136,718,000 after purchasing an additional 77,937 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Reliance by 7.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 296,033 shares of the industrial products company’s stock valued at $85,616,000 after purchasing an additional 20,056 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Reliance by 78.5% in the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock valued at $82,816,000 after purchasing an additional 127,422 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Reliance by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 285,871 shares of the industrial products company’s stock worth $82,677,000 after buying an additional 1,499 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Up 1.1 %

NYSE RS traded up $2.84 on Monday, reaching $270.59. The company had a trading volume of 332,409 shares, compared to its average volume of 351,647. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 14.86 and a beta of 0.91. The business has a 50 day moving average of $297.94 and a two-hundred day moving average of $290.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20.

Reliance (NYSE:RS) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.00 earnings per share. Analysts forecast that Reliance, Inc. will post 16.42 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.63%. Reliance’s dividend payout ratio is currently 24.16%.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 6,332 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the completion of the sale, the chief financial officer now owns 9,245 shares in the company, valued at approximately $2,941,574.10. This represents a 40.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,724 shares of company stock valued at $6,856,500 over the last ninety days. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. KeyCorp cut their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $328.83.

About Reliance

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.