CANADA LIFE ASSURANCE Co Has $26.14 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

CANADA LIFE ASSURANCE Co lowered its holdings in shares of Reliance, Inc. (NYSE:RS) by 17.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,032 shares of the industrial products company’s stock after selling 20,036 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.18% of Reliance worth $26,143,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of RS. Versant Capital Management Inc boosted its holdings in shares of Reliance by 157.8% during the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after buying an additional 304 shares during the last quarter. Providence First Trust Co bought a new stake in Reliance during the 4th quarter worth approximately $90,000. UMB Bank n.a. increased its position in Reliance by 41.8% in the 4th quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 104 shares during the period. Finally, Abound Wealth Management lifted its holdings in shares of Reliance by 35,700.0% during the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 357 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the transaction, the chief executive officer now owns 90,230 shares in the company, valued at $27,115,919.60. This trade represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Reliance Price Performance

Reliance stock opened at $276.97 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $326.87. The stock’s 50 day moving average price is $284.80 and its two-hundred day moving average price is $289.64. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of 17.94 and a beta of 0.83.

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

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $1.20 dividend. This is a boost from Reliance’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, March 7th. Reliance’s dividend payout ratio (DPR) is currently 31.09%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RS shares. KeyCorp raised their target price on Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Reliance currently has a consensus rating of “Hold” and an average price target of $319.00.

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.