AE Wealth Management LLC Makes New $524,000 Investment in Reliance, Inc. (NYSE:RS)

AE Wealth Management LLC acquired a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,815 shares of the industrial products company's stock, valued at approximately $524,000.

Several other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock valued at $998,886,000 after buying an additional 319,576 shares during the period. Wellington Management Group LLP boosted its stake in Reliance by 10.4% during the fourth quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock valued at $398,381,000 after buying an additional 138,866 shares during the period. First Trust Advisors LP lifted its stake in Reliance by 15.5% during 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 last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Reliance by 23.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 633,578 shares of the industrial products company's stock worth $170,598,000 after purchasing an additional 121,078 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Reliance by 32.7% during the fourth quarter. Northern Trust Corp now owns 597,348 shares of the industrial products company's stock worth $160,842,000 after purchasing an additional 147,076 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Price Performance

RS stock traded down $6.81 during mid-day trading on Friday, hitting $283.32. 459,942 shares of the stock were exchanged, compared to its average volume of 415,778. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. The business has a fifty day moving average price of $313.18 and a 200 day moving average price of $296.49. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.40 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.29). The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%. The firm's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 EPS. On average, sell-side analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, August 15th. Reliance's payout ratio is currently 35.04%.

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.