Cwm LLC Acquires 4,431 Shares of Reliance, Inc. (NYSE:RS)

CWM LLC grew its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 451.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,412 shares of the industrial products company's stock after acquiring an additional 4,431 shares during the period. CWM LLC's holdings in Reliance were worth $1,563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Reliance by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after buying an additional 319,576 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Reliance by 10.4% during the fourth quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock valued at $398,381,000 after purchasing an additional 138,866 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Reliance by 15.5% during the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock valued at $372,364,000 after purchasing an additional 185,873 shares in the last quarter. Norges Bank bought a new position in shares of Reliance during the 4th quarter valued at $186,255,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Reliance by 23.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 633,578 shares of the industrial products company's stock valued at $170,598,000 after buying an additional 121,078 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of NYSE RS traded up $3.00 during midday trading on Wednesday, hitting $343.20. 477,278 shares of the stock traded hands, compared to its average volume of 390,292. The firm has a 50-day moving average of $312.59 and a two-hundred day moving average of $294.95. The firm has a market capitalization of $18.05 billion, a P/E ratio of 24.60, a PEG ratio of 1.49 and a beta of 0.89. 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, Inc. has a one year low of $250.07 and a one year high of $347.44.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts' consensus estimates of $4.63 by ($0.20). Reliance had a return on equity of 10.77% and a net margin of 5.65%. Reliance's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 earnings per share. On average, equities analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend 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.