Cwm LLC Has $1.56 Million Stock Position in Reliance, Inc. (NYSE:RS)

CWM LLC grew its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 451.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,412 shares of the industrial products company's stock after buying an additional 4,431 shares during the quarter. CWM LLC's holdings in Reliance were worth $1,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in Reliance by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock worth $3,200,000 after acquiring an additional 38 shares in the last quarter. Townsquare Capital LLC grew its holdings in Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC increased its stake in Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after purchasing an additional 40 shares in the last quarter. Forum Financial Management LP boosted its position in shares of Reliance by 2.8% during the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after buying an additional 44 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of Reliance by 0.5% in the 1st quarter. Xponance Inc. now owns 9,245 shares of the industrial products company's stock worth $2,669,000 after buying an additional 45 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Stock Up 0.9%

Shares of RS traded up $2.90 during mid-day trading on Tuesday, reaching $341.94. The company had a trading volume of 272,633 shares, compared to its average volume of 388,324. 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 company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89. The firm has a 50-day moving average price of $311.08 and a 200 day moving average price of $294.14. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $346.25.

Reliance (NYSE:RS - Get Free Report) last released its quarterly 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 business had revenue of $3.48 billion for 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%. The company's revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $5.30 EPS. On average, sell-side analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders 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 dividend on an annualized basis and a yield of 1.40%. Reliance's payout ratio is currently 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.