Asset Management One Co. Ltd. Has $6.09 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

Asset Management One Co. Ltd. cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,089 shares of the industrial products company's stock after selling 1,148 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Reliance were worth $6,089,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RS. Coppell Advisory Solutions LLC grew its position in Reliance by 224.6% during the fourth 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 in the last quarter. Transce3nd LLC acquired a new stake in Reliance during the fourth quarter valued at approximately $58,000. Quarry LP grew its position in Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 118 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after purchasing an additional 304 shares during the last quarter. Finally, Providence First Trust Co acquired a new stake in shares of Reliance during the 4th quarter worth about $90,000. 79.26% of the stock is owned by institutional investors.

Reliance Price Performance

Shares of NYSE:RS traded down $2.21 during trading on Monday, reaching $314.60. The stock had a trading volume of 5,031 shares, compared to its average volume of 389,395. The stock has a market capitalization of $16.54 billion, a PE ratio of 22.56, a P/E/G ratio of 1.42 and a beta of 0.88. 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, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87. The business's 50-day moving average price is $299.84 and its 200 day moving average price is $288.46.

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

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a dividend of $1.20 per share. The ex-dividend date was Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.53%. Reliance's dividend payout ratio (DPR) is 34.41%.

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.