Illinois Municipal Retirement Fund Sells 4,511 Shares of Reliance, Inc. (NYSE:RS)

Illinois Municipal Retirement Fund reduced its stake in Reliance, Inc. (NYSE:RS - Free Report) by 9.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 41,081 shares of the industrial products company's stock after selling 4,511 shares during the quarter. Illinois Municipal Retirement Fund owned 0.08% of Reliance worth $11,862,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Reliance by 9.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after purchasing an additional 319,576 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Reliance by 10.4% in the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock worth $398,381,000 after purchasing an additional 138,866 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Reliance by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock valued at $372,364,000 after acquiring an additional 185,873 shares during the last quarter. Boston Partners raised its stake in Reliance by 7.6% during the 4th quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock valued at $192,894,000 after buying an additional 50,528 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Reliance in the 4th quarter worth approximately $186,255,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

NYSE:RS traded down $0.81 during mid-day trading on Monday, hitting $316.00. 42,036 shares of the company traded hands, compared to its average volume of 389,525. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. The stock's fifty day moving average price is $299.84 and its 200-day moving average price is $288.46. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.11. The firm had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The business's revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.30 EPS. Research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.52%. Reliance's dividend payout ratio (DPR) is 34.41%.

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.