Achmea Investment Management B.V. Increases Position in Reliance, Inc. (NYSE:RS)

Achmea Investment Management B.V. raised its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 25.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,951 shares of the industrial products company's stock after purchasing an additional 2,442 shares during the period. Achmea Investment Management B.V.'s holdings in Reliance were worth $3,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RS. Price T Rowe Associates Inc. MD boosted its holdings in 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 acquiring an additional 319,576 shares in the last quarter. Wellington Management Group LLP increased its stake in Reliance by 10.4% during the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock valued at $398,381,000 after purchasing an additional 138,866 shares in the last quarter. First Trust Advisors LP raised its holdings 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 buying an additional 185,873 shares during the last quarter. Boston Partners lifted its stake in shares of Reliance by 7.6% during the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock worth $192,894,000 after buying an additional 50,528 shares during the period. Finally, Norges Bank purchased a new stake in shares of Reliance during the fourth quarter valued at $186,255,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of RS stock traded down $1.15 during trading hours on Monday, hitting $315.66. The company's stock had a trading volume of 11,580 shares, compared to its average volume of 389,406. The stock has a market cap of $16.60 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $326.87. The company has a 50 day moving average of $299.84 and a 200 day moving average of $288.46. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.11. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the firm earned $5.30 EPS. The business's quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, May 23rd. Reliance's payout ratio is currently 34.41%.

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.