Quantinno Capital Management LP Has $1.32 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

Quantinno Capital Management LP grew its stake in Reliance, Inc. (NYSE:RS) by 47.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,558 shares of the industrial products company’s stock after purchasing an additional 1,469 shares during the quarter. Quantinno Capital Management LP’s holdings in Reliance were worth $1,318,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Reliance during the third quarter worth approximately $41,000. Polar Asset Management Partners Inc. bought a new position in Reliance in the 3rd quarter valued at approximately $3,181,000. Holocene Advisors LP bought a new position in Reliance in the 3rd quarter valued at approximately $3,141,000. Centiva Capital LP raised its holdings in Reliance by 81.2% during the 3rd quarter. Centiva Capital LP now owns 10,051 shares of the industrial products company’s stock worth $2,907,000 after purchasing an additional 4,505 shares during the last quarter. Finally, Concentric Capital Strategies LP grew its position in shares of Reliance by 97.0% during the 3rd quarter. Concentric Capital Strategies LP now owns 32,667 shares of the industrial products company’s stock worth $9,448,000 after buying an additional 16,086 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of Reliance stock opened at $301.69 on Friday. The business has a 50 day simple moving average of $303.42 and a two-hundred day simple moving average of $292.38. Reliance, Inc. has a 12 month low of $263.80 and a 12 month high of $342.20. The stock has a market capitalization of $16.33 billion, a P/E ratio of 16.57 and a beta of 0.87. 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 (NYSE:RS) last issued its quarterly earnings data 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 firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.00 earnings per share. As a group, analysts predict that Reliance, Inc. will post 16.42 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, November 22nd. Reliance’s dividend payout ratio is currently 24.16%.

Analyst Upgrades and Downgrades

RS has been the topic of a number of analyst reports. 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 report on Monday, October 14th. The Goldman Sachs Group began coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price for the company. Finally, BMO Capital Markets decreased their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $328.83.

Insider Buying and Selling at Reliance

In related news, Director Mark V. Kaminski sold 5,000 shares of Reliance stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. This trade represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,724 shares of company stock worth $6,856,500. 0.69% of the stock is owned by insiders.

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.