Allianz Asset Management GmbH Lowers Stock Holdings in Reliance, Inc. (NYSE:RS)

Allianz Asset Management GmbH lessened its stake in Reliance, Inc. (NYSE:RS - Free Report) by 36.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,216 shares of the industrial products company's stock after selling 47,990 shares during the period. Allianz Asset Management GmbH owned approximately 0.16% of Reliance worth $23,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wayfinding Financial LLC purchased a new stake in Reliance in the 1st quarter worth $30,000. Coppell Advisory Solutions LLC increased its holdings in shares of Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after buying an additional 128 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Reliance in the 4th quarter worth about $58,000. Quarry LP increased its holdings in shares of Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after buying an additional 118 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Reliance by 49.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company's stock worth $99,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of Reliance stock traded down $0.47 during trading hours on Monday, reaching $305.67. The company's stock had a trading volume of 105,817 shares, compared to its average volume of 408,803. The firm has a 50 day moving average price of $313.53 and a 200-day moving average price of $296.14. Reliance, Inc. has a one year low of $250.07 and a one year high of $347.43. 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 stock has a market cap of $16.07 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.42 and a beta of 0.89.

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

Reliance Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.57%. Reliance's payout ratio is 35.04%.

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.