Jackson Creek Investment Advisors LLC Sells 67 Shares of Reliance, Inc. (NYSE:RS)

Jackson Creek Investment Advisors LLC lessened its holdings in shares of Reliance, Inc. (NYSE:RS) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,390 shares of the industrial products company’s stock after selling 67 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Reliance were worth $389,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RS. AE Wealth Management LLC bought a new stake in Reliance in the 3rd quarter worth approximately $388,000. SG Americas Securities LLC increased its stake in Reliance by 113.0% in the 3rd quarter. SG Americas Securities LLC now owns 1,706 shares of the industrial products company’s stock worth $447,000 after acquiring an additional 905 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Reliance by 16.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 28,146 shares of the industrial products company’s stock worth $7,381,000 after acquiring an additional 3,894 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Reliance by 11.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 444 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 44 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Reliance by 3.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 276,818 shares of the industrial products company’s stock worth $72,590,000 after acquiring an additional 8,385 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RS shares. StockNews.com cut Reliance from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets decreased their target price on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and lifted their target price for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. Finally, KeyCorp boosted their price target on Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total transaction of $13,507,103.62. Following the sale, the chief executive officer now owns 84,534 shares in the company, valued at approximately $26,963,809.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Karla R. Lewis sold 42,346 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $318.97, for a total value of $13,507,103.62. Following the transaction, the chief executive officer now directly owns 84,534 shares of the company’s stock, valued at approximately $26,963,809.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Donald Hoffman sold 40,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $322.95, for a total value of $12,918,000.00. Following the completion of the sale, the director now owns 54,042 shares of the company’s stock, valued at $17,452,863.90. The disclosure for this sale can be found here. Insiders sold a total of 85,996 shares of company stock valued at $27,603,878 in the last ninety days. Insiders own 0.69% of the company’s stock.

Reliance Trading Down 3.2 %

Shares of NYSE RS opened at $284.54 on Wednesday. Reliance, Inc. has a twelve month low of $229.12 and a twelve month 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 $322.85 and a 200-day simple moving average of $292.45. The stock has a market capitalization of $16.34 billion, a PE ratio of 13.29, a PEG ratio of 5.15 and a beta of 0.87.

Reliance (NYSE:RS) last released 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 company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.37 earnings per share. On average, equities analysts forecast that Reliance, Inc. will post 19.6 earnings per share for the current year.

Reliance Dividend Announcement

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 issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance’s payout ratio is currently 20.55%.

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.