Copeland Capital Management LLC Has $52.86 Million Stake in Reliance, Inc. (NYSE:RS)

Copeland Capital Management LLC lessened its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 0.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 183,059 shares of the industrial products company's stock after selling 1,716 shares during the period. Copeland Capital Management LLC owned about 0.35% of Reliance worth $52,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RS. Coppell Advisory Solutions LLC increased its stake in shares of Reliance by 224.6% in the fourth 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 acquired a new stake in shares of Reliance in the fourth quarter valued at about $58,000. Quarry LP grew 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 valued at $70,000 after purchasing an additional 118 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Reliance by 1,216.0% in the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $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 in the fourth quarter valued at about $90,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Performance

Shares of NYSE:RS traded up $2.58 during midday trading on Friday, hitting $317.23. The company's stock had a trading volume of 580,628 shares, compared to its average volume of 390,915. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.42 and a beta of 0.88. The stock's 50 day simple moving average is $299.84 and its 200 day simple moving average is $288.55. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 3.17.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, topping 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 business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the business earned $5.30 earnings per share. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were paid a $1.20 dividend. The ex-dividend date was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.51%. Reliance's 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.