TD Private Client Wealth LLC Acquires 625 Shares of Reliance, Inc. (NYSE:RS)

TD Private Client Wealth LLC boosted its holdings in Reliance, Inc. (NYSE:RS) by 22.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,444 shares of the industrial products company’s stock after acquiring an additional 625 shares during the quarter. TD Private Client Wealth LLC’s holdings in Reliance were worth $927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of Reliance in the 4th quarter valued at $7,352,000. Toronto Dominion Bank increased its holdings in Reliance by 26.7% in the 3rd 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 in the last quarter. Pure Financial Advisors LLC raised its position in Reliance by 232.9% in the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after purchasing an additional 6,493 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Reliance during the third quarter valued at about $4,600,000. Finally, Swedbank AB grew its holdings in shares of Reliance by 38.4% during the third quarter. Swedbank AB now owns 42,881 shares of the industrial products company’s stock worth $12,402,000 after purchasing an additional 11,887 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Performance

Shares of RS stock opened at $276.77 on Monday. The stock has a market capitalization of $14.66 billion, a PE ratio of 17.93 and a beta of 0.87. The business’s 50 day simple moving average is $288.07 and its 200 day simple moving average is $289.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.52). Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.04 billion. As a group, research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a dividend yield of 1.73%. Reliance’s dividend payout ratio (DPR) is 31.09%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. KeyCorp raised their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group began coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. Five equities research 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, the stock has a consensus rating of “Hold” and an average price target of $329.17.

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction on Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the sale, the chief executive officer now owns 90,230 shares in the company, valued at $27,115,919.60. The trade was a 25.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is owned by company insiders.

Reliance Company 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.