Reliance, Inc. (NYSE:RS) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,806 shares of the industrial products company's stock after selling 924 shares during the period. Amalgamated Bank's holdings in Reliance were worth $7,163,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Johnson Investment Counsel Inc. grew its position in shares of Reliance by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock valued at $3,002,000 after purchasing an additional 39 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Reliance by 11.1% in the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after purchasing an additional 40 shares in the last quarter. Forum Financial Management LP grew its position in shares of Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after purchasing an additional 44 shares in the last quarter. Finally, Lido Advisors LLC grew its position in shares of Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 47 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Trading Up 0.5%

RS traded up $1.50 during trading hours on Friday, reaching $326.94. The company's stock had a trading volume of 159,208 shares, compared to its average volume of 388,441. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $328.27. The stock has a market cap of $17.19 billion, a PE ratio of 23.44, a P/E/G ratio of 1.47 and a beta of 0.89. The business's 50-day moving average is $304.04 and its 200-day moving average is $289.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58.

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 analysts' consensus estimates of $3.66 by $0.11. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The firm had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same period in the prior year, the firm posted $5.30 earnings per share. The firm's quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, May 23rd. Reliance's dividend payout ratio 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.