Bessemer Group Inc. Sells 11,143 Shares of Reliance, Inc. (NYSE:RS)

Bessemer Group Inc. lowered its stake in Reliance, Inc. (NYSE:RS - Free Report) by 74.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,755 shares of the industrial products company's stock after selling 11,143 shares during the quarter. Bessemer Group Inc.'s holdings in Reliance were worth $1,085,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RS. Coppell Advisory Solutions LLC boosted its holdings in Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after acquiring an additional 128 shares during the last quarter. Transce3nd LLC bought a new position in shares of Reliance in the fourth quarter worth approximately $58,000. Quarry LP increased its position in shares of Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after purchasing an additional 118 shares during the last quarter. Jones Financial Companies Lllp grew its position in Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after acquiring an additional 304 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Reliance by 49.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company's stock valued at $99,000 after purchasing an additional 121 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Trading Up 0.5%

RS stock traded up $1.50 on Friday, reaching $326.94. The company's stock had a trading volume of 159,208 shares, compared to its average volume of 389,458. The business has a fifty day simple moving average of $304.04 and a two-hundred day simple moving average of $289.68. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $328.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 3.17. The firm has a market cap of $17.19 billion, a PE ratio of 23.44, a PEG ratio of 1.47 and a beta of 0.89.

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

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $1.20 dividend. 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 1.47%. 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.