Reliance, Inc. (NYSE:RS) Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in Reliance, Inc. (NYSE:RS - Free Report) by 27.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,705 shares of the industrial products company's stock after buying an additional 2,551 shares during the quarter. Exchange Traded Concepts LLC's holdings in Reliance were worth $3,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RS. Proficio Capital Partners LLC purchased a new position in shares of Reliance in the 4th quarter valued at $7,352,000. Merewether Investment Management LP purchased a new position in Reliance in the fourth quarter valued at about $9,963,000. Loomis Sayles & Co. L P lifted its stake in shares of Reliance by 3.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 48,213 shares of the industrial products company's stock worth $12,982,000 after purchasing an additional 1,640 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Reliance by 38.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,697 shares of the industrial products company's stock worth $9,343,000 after buying an additional 9,642 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Reliance by 15.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,010 shares of the industrial products company's stock valued at $3,503,000 after buying an additional 1,700 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, KeyCorp boosted their price target on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $319.00.

Reliance Stock Up 1.2%

Shares of NYSE:RS traded up $3.70 during trading on Tuesday, hitting $309.52. The company's stock had a trading volume of 349,320 shares, compared to its average volume of 407,201. The company has a market capitalization of $16.28 billion, a PE ratio of 20.05 and a beta of 0.88. 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 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The stock's 50-day moving average price is $294.00 and its two-hundred day moving average price is $288.39.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.11. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. Reliance's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.30 EPS. As a group, sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, May 23rd. Reliance's payout ratio is currently 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.