Forsta AP Fonden Sells 1,300 Shares of Reliance, Inc. (NYSE:RS)

Key Points

• Forsta AP Fonden has reduced its stake in Reliance, Inc. by 11.9%, selling 1,300 shares and leaving it with 9,600 shares valued at approximately $2.77 million.
• Reliance, Inc. reported Q2 earnings of $4.43 per share, which missed analysts' estimates of $4.72 per share, while its revenue for the quarter was $3.66 billion.
• The company declared a quarterly dividend of $1.20 per share, equating to an annualized return of 1.7%, with a payout ratio of 35.04%.

Forsta AP Fonden reduced its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,600 shares of the industrial products company's stock after selling 1,300 shares during the quarter. Forsta AP Fonden's holdings in Reliance were worth $2,772,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Merewether Investment Management LP bought a new stake in shares of Reliance during the 4th quarter valued at $9,963,000. GAMMA Investing LLC boosted its holdings in shares of Reliance by 17.4% during the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after buying an additional 143 shares in the last quarter. NDVR Inc. boosted its holdings in shares of Reliance by 5.8% during the 4th quarter. NDVR Inc. now owns 882 shares of the industrial products company's stock valued at $237,000 after buying an additional 48 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Reliance by 567.7% during the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after buying an additional 4,786 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Reliance by 3.5% during the 4th quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock valued at $6,319,000 after buying an additional 787 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

Shares of RS stock opened at $283.00 on Tuesday. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The stock has a market cap of $14.88 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The company's fifty day moving average price is $311.78 and its 200-day moving average price is $296.55.

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

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $1.20 dividend. The ex-dividend date is Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance's payout ratio is presently 35.04%.

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.

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