ASR Vermogensbeheer N.V. Takes $1.19 Million Position in Reliance, Inc. (NYSE:RS)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Reliance, Inc. by purchasing 4,133 shares valued at approximately $1,193,000.
• Reliance, Inc. recently announced a $1.20 quarterly dividend with a dividend yield of 1.7%, to be paid on August 29th to stockholders of record.
• The company reported a Q2 EPS of $4.43, missing analyst estimates, but showed a year-over-year revenue increase of 0.5% to $3.66 billion.

ASR Vermogensbeheer N.V. bought a new position 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 bought 4,133 shares of the industrial products company's stock, valued at approximately $1,193,000.

Several other institutional investors have also recently made changes to their positions in the business. Hemington Wealth Management raised its holdings in shares of Reliance by 18.0% during the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after purchasing an additional 35 shares during the last quarter. New Age Alpha Advisors LLC raised its holdings in shares of Reliance by 5,167.6% during the first quarter. New Age Alpha Advisors LLC now owns 26,022 shares of the industrial products company's stock worth $7,514,000 after purchasing an additional 25,528 shares during the last quarter. Liberty Wealth Management LLC purchased a new position in shares of Reliance during the first quarter worth $5,003,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in shares of Reliance by 188.9% during the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 2,600 shares of the industrial products company's stock worth $751,000 after purchasing an additional 1,700 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Reliance by 34.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,607 shares of the industrial products company's stock valued at $3,352,000 after buying an additional 2,947 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

RS stock traded up $5.68 during midday trading on Wednesday, hitting $292.19. 71,056 shares of the stock traded hands, compared to its average volume of 409,565. The firm has a market cap of $15.37 billion, a P/E ratio of 21.33, a PEG ratio of 1.35 and a beta of 0.89. 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's fifty day simple moving average is $311.35 and its 200-day simple moving average is $296.48. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 EPS. On average, analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

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 given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 15th. Reliance's dividend payout ratio (DPR) is currently 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.