Siemens Fonds Invest GmbH Acquires Shares of 4,163 Reliance, Inc. (NYSE:RS)

Siemens Fonds Invest GmbH bought a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,163 shares of the industrial products company's stock, valued at approximately $1,121,000.

Several other institutional investors also recently bought and sold shares of RS. Norges Bank bought a new position in Reliance during the fourth quarter valued at about $186,255,000. American Century Companies Inc. increased its stake in shares of Reliance by 1,127.9% in the fourth quarter. American Century Companies Inc. now owns 426,986 shares of the industrial products company's stock worth $114,971,000 after purchasing an additional 392,213 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Reliance by 9.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after purchasing an additional 319,576 shares during the period. Principal Financial Group Inc. increased its stake in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock worth $195,402,000 after purchasing an additional 252,955 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Reliance by 15.5% in the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock worth $372,364,000 after purchasing an additional 185,873 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, KeyCorp lifted their price objective on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Reliance has an average rating of "Hold" and an average price target of $319.00.

Reliance Stock Performance

RS stock traded up $0.54 during trading on Friday, reaching $292.48. 695,521 shares of the stock were exchanged, compared to its average volume of 396,130. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $326.87. The company has a market capitalization of $15.38 billion, a P/E ratio of 18.94 and a beta of 0.91. The stock has a 50 day simple moving average of $287.69 and a 200-day simple moving average of $289.40. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.66 by $0.11. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the business earned $5.30 earnings per share. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, May 23rd. Reliance's dividend payout ratio (DPR) is presently 34.41%.

About Reliance

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.