Johnson Investment Counsel Inc. Has $3.64 Million Stock Position in Reliance, Inc. (NYSE:RS)

Johnson Investment Counsel Inc. boosted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,610 shares of the industrial products company's stock after purchasing an additional 1,461 shares during the period. Johnson Investment Counsel Inc.'s holdings in Reliance were worth $3,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. State of Alaska Department of Revenue raised its stake in shares of Reliance by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 45,242 shares of the industrial products company's stock valued at $13,063,000 after acquiring an additional 170 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Reliance by 27.9% in the first quarter. Exchange Traded Concepts LLC now owns 11,705 shares of the industrial products company's stock valued at $3,380,000 after acquiring an additional 2,551 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Reliance by 20.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,291 shares of the industrial products company's stock valued at $9,902,000 after acquiring an additional 5,882 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Reliance by 3.3% in the first quarter. NorthCrest Asset Manangement LLC now owns 6,859 shares of the industrial products company's stock valued at $1,981,000 after acquiring an additional 221 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Reliance by 26.9% in the first quarter. Fifth Third Bancorp now owns 822 shares of the industrial products company's stock valued at $237,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Trading Up 0.5%

RS stock traded up $1.66 during trading on Monday, hitting $309.21. The company had a trading volume of 297,500 shares, compared to its average volume of 394,294. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $296.96 and a 200-day moving average price of $288.27. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.37 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data 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. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The firm had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. During the same quarter in the previous year, the company posted $5.30 EPS. Reliance's revenue was down 4.4% on a year-over-year basis. As a group, analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, May 23rd. Reliance's dividend payout ratio is presently 34.41%.

Analyst Upgrades and Downgrades

Separately, KeyCorp lifted their target price on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $319.00.

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.