California State Teachers Retirement System Has $40.01 Million Position in Reliance, Inc. (NYSE:RS)

California State Teachers Retirement System boosted its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,576 shares of the industrial products company's stock after acquiring an additional 21,863 shares during the quarter. California State Teachers Retirement System owned about 0.28% of Reliance worth $40,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC raised its holdings in Reliance by 10.7% during the 3rd quarter. Barclays PLC now owns 76,131 shares of the industrial products company's stock worth $22,017,000 after buying an additional 7,373 shares during the period. Blue Trust Inc. raised its holdings in Reliance by 35.4% during the 4th quarter. Blue Trust Inc. now owns 1,387 shares of the industrial products company's stock worth $401,000 after buying an additional 363 shares during the period. Perigon Wealth Management LLC raised its holdings in Reliance by 8.4% during the 4th quarter. Perigon Wealth Management LLC now owns 1,101 shares of the industrial products company's stock worth $313,000 after buying an additional 85 shares during the period. BSW Wealth Partners raised its holdings in Reliance by 23.5% during the 4th quarter. BSW Wealth Partners now owns 2,215 shares of the industrial products company's stock worth $596,000 after buying an additional 422 shares during the period. Finally, Swedbank AB raised its holdings in Reliance by 1.6% during the 4th quarter. Swedbank AB now owns 43,568 shares of the industrial products company's stock worth $11,731,000 after buying an additional 687 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, KeyCorp boosted their price objective on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $319.00.

Reliance Stock Up 3.1%

Shares of RS traded up $9.19 during trading hours on Monday, reaching $302.01. The company's stock had a trading volume of 491,523 shares, compared to its average volume of 395,348. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of 19.56 and a beta of 0.91. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $326.87. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $287.84 and a two-hundred day moving average of $289.04.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.30 EPS. As a group, research analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.59%. Reliance's dividend payout ratio is 34.41%.

Reliance 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.