Reliance, Inc. (NYSE:RS) Stock Holdings Increased by Deutsche Bank AG

Deutsche Bank AG increased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,346 shares of the industrial products company's stock after buying an additional 7,786 shares during the period. Deutsche Bank AG owned about 0.21% of Reliance worth $31,862,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC boosted its holdings in shares of Reliance by 138.9% during the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 50 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of Reliance during the first quarter valued at $30,000. Coppell Advisory Solutions LLC boosted its holdings in shares of Reliance by 224.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 128 shares during the period. Finally, Transce3nd LLC acquired a new position in shares of Reliance during the fourth quarter valued at $58,000. Institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of NYSE:RS traded down $3.93 during trading hours on Friday, hitting $286.34. 291,580 shares of the company's stock traded hands, compared to its average volume of 408,962. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. The company's fifty day simple moving average is $310.71 and its two-hundred day simple moving average is $296.47. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the business posted $4.65 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance's dividend payout ratio is currently 35.04%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised shares of Reliance to a "hold" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Reliance presently has an average rating of "Hold" and a consensus price target of $323.50.

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.