Reliance, Inc. (NYSE:RS) Shares Purchased by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda increased its holdings in Reliance, Inc. (NYSE:RS) by 131.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,034 shares of the industrial products company’s stock after purchasing an additional 1,154 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Reliance were worth $588,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Reliance by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 1,224,274 shares of the industrial products company’s stock valued at $342,405,000 after purchasing an additional 27,074 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Reliance by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company’s stock worth $333,809,000 after buying an additional 53,747 shares during the last quarter. Acadian Asset Management LLC increased its stake in Reliance by 20.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock worth $358,270,000 after buying an additional 184,509 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Reliance by 13.3% in the second quarter. Principal Financial Group Inc. now owns 394,793 shares of the industrial products company’s stock valued at $112,753,000 after acquiring an additional 46,259 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position 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 acquiring an additional 127,422 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on RS shares. Bank of America dropped their price target on Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. KeyCorp dropped their target price on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wolfe Research downgraded shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target on the stock. in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $329.40.

Reliance Stock Down 1.0 %

Shares of NYSE:RS opened at $290.82 on Wednesday. Reliance, Inc. has a 52-week low of $237.14 and a 52-week high of $342.20. The stock has a market cap of $16.00 billion, a P/E ratio of 14.85 and a beta of 0.85. The business has a fifty day moving average of $282.21 and a two-hundred day moving average of $293.09. The company has a quick ratio of 2.43, a current ratio of 5.02 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). Reliance had a net margin of 7.99% and a return on equity of 14.73%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company posted $6.49 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts expect that Reliance, Inc. will post 17.16 earnings per share for the current year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.51%. Reliance’s dividend payout ratio is currently 22.46%.

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.