Centiva Capital LP Acquires 4,505 Shares of Reliance, Inc. (NYSE:RS)

Centiva Capital LP boosted its holdings in shares of Reliance, Inc. (NYSE:RS) by 81.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,051 shares of the industrial products company’s stock after purchasing an additional 4,505 shares during the quarter. Centiva Capital LP’s holdings in Reliance were worth $2,907,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RS. Innealta Capital LLC bought a new stake in Reliance in the 2nd quarter worth approximately $28,000. UMB Bank n.a. boosted its holdings in shares of Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 53 shares during the period. National Bank of Canada FI boosted its holdings in shares of Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 41 shares during the period. Brooklyn Investment Group purchased a new position in shares of Reliance in the 3rd quarter worth approximately $78,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Reliance in the 2nd quarter worth approximately $117,000. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Down 0.5 %

Shares of NYSE RS opened at $319.70 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $299.47 and a two-hundred day simple moving average of $291.77. The firm has a market cap of $17.30 billion, a PE ratio of 17.56 and a beta of 0.87. Reliance, Inc. has a twelve month low of $261.77 and a twelve month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 earnings per share. Analysts expect that Reliance, Inc. will post 16.42 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, November 22nd. Reliance’s payout ratio is 24.16%.

Analysts Set New Price Targets

RS has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group initiated coverage on Reliance in a report on Monday. They set a “neutral” rating and a $341.00 price objective for the company. Finally, KeyCorp dropped their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $328.83.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 6,332 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the sale, the chief financial officer now owns 9,245 shares in the company, valued at approximately $2,941,574.10. The trade was a 40.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. Insiders have sold 17,832 shares of company stock valued at $5,595,881 in the last ninety days. Corporate insiders own 0.69% of the company’s stock.

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.