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Alpine Woods Capital Investors LLC Sells 1,380 Shares of Reliance, Inc. (NYSE:RS)

Reliance logo with Basic Materials background

Alpine Woods Capital Investors LLC decreased its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,873 shares of the industrial products company's stock after selling 1,380 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Reliance were worth $2,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RS. Oregon Public Employees Retirement Fund raised its holdings in Reliance by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock worth $3,200,000 after purchasing an additional 38 shares in the last quarter. Townsquare Capital LLC raised its holdings in Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Reliance by 11.1% in the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after purchasing an additional 40 shares in the last quarter. Forum Financial Management LP raised its holdings in Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock worth $436,000 after purchasing an additional 44 shares in the last quarter. Finally, Lido Advisors LLC raised its holdings in Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Down 1.3%

Shares of NYSE:RS traded down $4.47 on Friday, hitting $328.09. 368,597 shares of the company traded hands, compared to its average volume of 387,641. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $333.71. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $307.83 and a 200-day simple moving average of $291.87. The company has a market cap of $17.25 billion, a PE ratio of 23.52, a PEG ratio of 1.48 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, beating the consensus estimate of $3.66 by $0.11. The company had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a return on equity of 10.77% and a net margin of 5.65%. Reliance's revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $5.30 earnings per share. As a group, research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.46%. Reliance's payout ratio is currently 34.41%.

About Reliance

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Reliance (NYSE:RS)

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