Reliance, Inc. (NYSE:RS) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 33,792.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,933 shares of the industrial products company's stock after acquiring an additional 278,110 shares during the quarter. GAMMA Investing LLC owned about 0.53% of Reliance worth $80,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RS. Coppell Advisory Solutions LLC lifted its holdings in Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after buying an additional 128 shares in the last quarter. Transce3nd LLC acquired a new position in Reliance in the 4th quarter worth $58,000. Quarry LP lifted its holdings in Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after buying an additional 118 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after buying an additional 304 shares in the last quarter. Finally, Providence First Trust Co acquired a new position in Reliance in the 4th quarter worth $90,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Down 0.4%

Shares of RS traded down $1.32 during midday trading on Thursday, hitting $307.25. The company had a trading volume of 311,146 shares, compared to its average volume of 396,349. The company's 50 day moving average price is $288.95 and its 200 day moving average price is $289.28. The stock has a market cap of $16.16 billion, a price-to-earnings ratio of 19.90 and a beta of 0.91. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.11. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company's revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.30 EPS. On average, equities research analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance's payout ratio is currently 34.41%.

Analysts Set New Price Targets

Separately, KeyCorp boosted their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $319.00.

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.