Monument Capital Management Has $2.77 Million Position in Reliance, Inc. (NYSE:RS)

Monument Capital Management cut its holdings in shares of Reliance, Inc. (NYSE:RS) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,919 shares of the industrial products company’s stock after selling 306 shares during the quarter. Monument Capital Management’s holdings in Reliance were worth $2,774,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Millburn Ridgefield Corp acquired a new position in Reliance in the 3rd quarter valued at $33,000. Catalyst Capital Advisors LLC acquired a new position in Reliance in the 3rd quarter valued at $33,000. Altshuler Shaham Ltd grew its holdings in Reliance by 183.6% in the 3rd quarter. Altshuler Shaham Ltd now owns 207 shares of the industrial products company’s stock valued at $54,000 after buying an additional 134 shares in the last quarter. UMB Bank n.a. grew its holdings in Reliance by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 230 shares of the industrial products company’s stock valued at $60,000 after buying an additional 48 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Reliance by 187.9% in the 4th quarter. Blue Trust Inc. now owns 285 shares of the industrial products company’s stock valued at $75,000 after buying an additional 186 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets upped their price objective on Reliance from $295.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Citigroup downgraded Reliance from a “buy” rating to a “neutral” rating and upped their target price for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. Finally, KeyCorp upped their target price on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.67.

Reliance Price Performance

Shares of RS stock traded up $1.91 on Monday, hitting $321.40. 63,477 shares of the company’s stock were exchanged, compared to its average volume of 235,260. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.66 and a quick ratio of 3.23. Reliance, Inc. has a 12 month low of $229.12 and a 12 month high of $342.20. The stock has a market cap of $18.46 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 5.63 and a beta of 0.87. The company has a 50 day moving average of $324.38 and a 200 day moving average of $290.44.

Reliance (NYSE:RS) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.81. Reliance had a return on equity of 17.53% and a net margin of 9.02%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company earned $5.87 EPS. Reliance’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities research analysts predict that Reliance, Inc. will post 19.51 EPS for the current year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.10 per share. This is an increase from Reliance’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 7th. Reliance’s dividend payout ratio is currently 19.46%.

Insider Buying and Selling

In other Reliance news, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the transaction, the chief executive officer now owns 83,884 shares of the company’s stock, valued at approximately $27,091,176.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Reliance news, CEO Karla R. Lewis sold 650 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $322.96, for a total value of $209,924.00. Following the completion of the transaction, the chief executive officer now owns 83,884 shares of the company’s stock, valued at approximately $27,091,176.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Arthur Ajemyan sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the transaction, the chief financial officer now directly owns 15,577 shares of the company’s stock, valued at approximately $5,030,592.15. The disclosure for this sale can be found here. Insiders sold a total of 85,996 shares of company stock worth $27,603,878 in the last ninety days. 0.69% of the stock is owned by insiders.

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.