Orser Capital Management LLC Sells 45 Shares of Reliance, Inc. (NYSE:RS)

Orser Capital Management LLC cut its holdings in Reliance, Inc. (NYSE:RS) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,356 shares of the industrial products company’s stock after selling 45 shares during the period. Reliance makes up 1.3% of Orser Capital Management LLC’s portfolio, making the stock its 23rd largest position. Orser Capital Management LLC’s holdings in Reliance were worth $1,711,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RS. Toronto Dominion Bank grew its holdings in shares of Reliance by 26.7% in the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after purchasing an additional 1,729 shares during the last quarter. Assetmark Inc. grew its holdings in Reliance by 24.2% in the 3rd quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock worth $8,074,000 after acquiring an additional 5,431 shares during the last quarter. AXA S.A. increased its position in shares of Reliance by 5.4% in the second quarter. AXA S.A. now owns 79,334 shares of the industrial products company’s stock valued at $22,658,000 after acquiring an additional 4,032 shares during the period. Dearborn Partners LLC increased its position in shares of Reliance by 4.1% in the third quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock valued at $24,989,000 after acquiring an additional 3,419 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Reliance by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock valued at $36,963,000 after acquiring an additional 1,696 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 6,500 shares of Reliance stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the transaction, the senior vice president now owns 16,849 shares of the company’s stock, valued at $5,420,491.79. The trade was a 27.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,724 shares of company stock worth $6,856,500. 0.69% of the stock is currently owned by company insiders.

Reliance Stock Up 1.8 %

Shares of NYSE:RS opened at $282.67 on Thursday. The firm has a market capitalization of $15.30 billion, a P/E ratio of 15.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The stock has a 50 day moving average price of $294.29 and a 200-day moving average price of $289.92. Reliance, Inc. has a 52-week low of $256.98 and a 52-week high of $342.20.

Reliance (NYSE:RS) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a return on equity of 13.68% and a net margin of 7.42%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $5.00 EPS. Reliance’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate 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 was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, November 22nd. Reliance’s payout ratio is currently 24.16%.

Analysts Set New Price Targets

RS has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. KeyCorp reduced their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group started coverage on Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. Finally, Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five investment 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, the company has an average rating of “Hold” and an average target price 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.