UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $124.10 Million Holdings in Reliance, Inc. (NYSE:RS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Reliance, Inc. (NYSE:RS) by 13.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,083 shares of the industrial products company’s stock after selling 64,101 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Reliance were worth $124,095,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Trust Point Inc. boosted its position in shares of Reliance by 3.6% in the 3rd quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 34 shares during the last quarter. National Bank of Canada FI increased its stake in Reliance by 17.9% in the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 41 shares in the last quarter. Fulton Bank N.A. raised its holdings in Reliance by 3.1% in the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock worth $454,000 after purchasing an additional 47 shares during the period. Consolidated Planning Corp boosted its position in shares of Reliance by 7.1% during the second quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 50 shares in the last quarter. Finally, UMB Bank n.a. grew 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 valued at $72,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Transactions at Reliance

In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this link. Also, SVP William A. Smith II sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at approximately $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,832 shares of company stock worth $5,595,881 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Reliance Stock Down 0.4 %

RS stock opened at $321.24 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The stock has a market capitalization of $17.39 billion, a P/E ratio of 17.64 and a beta of 0.85. Reliance, Inc. has a fifty-two week low of $261.77 and a fifty-two week high of $342.20. The business has a 50-day moving average of $299.47 and a 200-day moving average of $291.80.

Reliance (NYSE:RS) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business earned $5.00 earnings per share. Reliance’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Reliance, Inc. will post 16.42 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, November 22nd. Reliance’s dividend payout ratio (DPR) is 24.16%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RS. BMO Capital Markets reduced their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. KeyCorp decreased their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Reliance has a consensus rating of “Hold” and an average target price of $326.40.

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.