Kathmere Capital Management LLC Has $333,000 Stake in Reliance, Inc. (NYSE:RS)

Kathmere Capital Management LLC grew its holdings in Reliance, Inc. (NYSE:RS) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 995 shares of the industrial products company’s stock after purchasing an additional 136 shares during the quarter. Kathmere Capital Management LLC’s holdings in Reliance were worth $333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RS. Riverview Trust Co bought a new stake in Reliance during the 1st quarter worth about $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Reliance in the first quarter valued at approximately $30,000. Partnership Wealth Management LLC bought a new position in Reliance in the 4th quarter worth approximately $43,000. Rise Advisors LLC acquired a new position in Reliance during the 1st quarter worth $49,000. Finally, Blue Trust Inc. boosted its position 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 during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Reliance

In other news, Director James Donald Hoffman sold 5,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $290.04, for a total value of $1,450,200.00. Following the sale, the director now directly owns 44,042 shares in the company, valued at $12,773,941.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director James Donald Hoffman sold 5,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $290.04, for a total value of $1,450,200.00. Following the completion of the transaction, the director now owns 44,042 shares of the company’s stock, valued at $12,773,941.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen Paul Koch sold 20,421 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $295.38, for a total transaction of $6,031,954.98. Following the sale, the chief operating officer now directly owns 7,552 shares in the company, valued at $2,230,709.76. The disclosure for this sale can be found here. Insiders sold 40,421 shares of company stock valued at $11,866,855 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America cut their price target on Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research note on Wednesday. BMO Capital Markets lowered their price target on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. StockNews.com downgraded shares of Reliance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and raised their price objective for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $355.50.

Reliance Stock Up 1.8 %

Shares of NYSE:RS opened at $285.60 on Friday. The company has a 50 day moving average price of $292.28 and a two-hundred day moving average price of $300.38. The company has a market capitalization of $16.40 billion, a PE ratio of 13.34 and a beta of 0.90. Reliance, Inc. has a 52 week low of $237.14 and a 52 week high of $342.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74.

Reliance (NYSE:RS) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.21). The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The business’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.37 earnings per share. Analysts forecast that Reliance, Inc. will post 18.66 earnings per share for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Thursday, May 23rd. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

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.