Janus Henderson Group PLC Purchases 2,800 Shares of Reliance, Inc. (NYSE:RS)

Janus Henderson Group PLC raised its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 138.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,817 shares of the industrial products company's stock after buying an additional 2,800 shares during the period. Janus Henderson Group PLC's holdings in Reliance were worth $1,298,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in Reliance during the 4th quarter worth $7,352,000. Loomis Sayles & Co. L P increased its position in 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 acquiring an additional 1,640 shares during the period. O Shaughnessy Asset Management LLC increased its position in Reliance by 38.5% during 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 acquiring an additional 9,642 shares during the period. Daiwa Securities Group Inc. raised its stake in Reliance by 15.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,010 shares of the industrial products company's stock worth $3,503,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Reliance by 12.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,289 shares of the industrial products company's stock valued at $347,000 after purchasing an additional 145 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, KeyCorp raised their target price 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $319.00.

Reliance Price Performance

RS stock traded down $2.23 during midday trading on Wednesday, reaching $298.01. The company had a trading volume of 19,238 shares, compared to its average volume of 394,008. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $326.87. The stock has a 50 day moving average price of $287.26 and a 200-day moving average price of $289.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 19.30 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, beating the consensus estimate of $3.66 by $0.11. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the firm earned $5.30 EPS. The business's quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts expect that Reliance, Inc. will post 16.98 earnings per share 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 issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.61%. Reliance's dividend payout ratio (DPR) is currently 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.