Jefferies Financial Group Inc. Invests $2.53 Million in Reliance, Inc. (NYSE:RS)

Key Points

• Jefferies Financial Group Inc. invested approximately $2.53 million in Reliance, Inc. by purchasing 8,759 shares in the first quarter, according to their latest SEC filing.
• Reliance, Inc. reported earnings of $4.43 per share in its recent quarterly earnings, missing the consensus estimate by $0.29, while revenues matched expectations at $3.66 billion.
• The company declared a $1.20 quarterly dividend to be paid on August 29th, representing an annualized yield of 1.7% and a payout ratio of 35.04%.

Jefferies Financial Group Inc. purchased a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,759 shares of the industrial products company's stock, valued at approximately $2,529,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. US Bancorp DE boosted its position in shares of Reliance by 4.0% during the first quarter. US Bancorp DE now owns 2,075 shares of the industrial products company's stock worth $599,000 after buying an additional 79 shares during the period. Cordatus Wealth Management LLC boosted its position in shares of Reliance by 3.7% during the first quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company's stock worth $281,000 after buying an additional 35 shares during the period. Natixis Advisors LLC boosted its position in shares of Reliance by 9.8% during the first quarter. Natixis Advisors LLC now owns 18,607 shares of the industrial products company's stock worth $5,373,000 after buying an additional 1,664 shares during the period. Bayforest Capital Ltd boosted its position in shares of Reliance by 229.9% during the first quarter. Bayforest Capital Ltd now owns 1,138 shares of the industrial products company's stock worth $329,000 after buying an additional 793 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Reliance during the first quarter worth $29,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Trading Down 2.3%

RS opened at $283.32 on Friday. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The business has a fifty day simple moving average of $313.01 and a 200-day simple moving average of $296.62. The firm has a market cap of $14.90 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.35 and a beta of 0.89. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14.

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

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 15th. Reliance's dividend payout ratio (DPR) 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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