Envestnet Asset Management Inc. Acquires 4,677 Shares of Reliance, Inc. (NYSE:RS)

Envestnet Asset Management Inc. increased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,579 shares of the industrial products company's stock after buying an additional 4,677 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Reliance worth $22,690,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wayfinding Financial LLC bought a new stake in shares of Reliance during the first quarter worth about $30,000. Coppell Advisory Solutions LLC lifted its stake in Reliance by 224.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after buying an additional 128 shares during the period. Transce3nd LLC acquired a new position in Reliance in the fourth quarter valued at approximately $58,000. Quarry LP lifted its stake in 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 buying an additional 118 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in Reliance by 49.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company's stock valued at $99,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Up 1.3%

Shares of NYSE RS traded up $4.19 during midday trading on Wednesday, hitting $326.19. 301,589 shares of the stock traded hands, compared to its average volume of 386,059. The business has a 50 day moving average price of $309.00 and a two-hundred day moving average price of $292.63. Reliance, Inc. has a one year low of $250.07 and a one year high of $333.71. The company has a market cap of $17.15 billion, a PE ratio of 23.38, a P/E/G ratio of 1.47 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 (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.30 EPS. On average, equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, May 23rd. 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.