Liberty Wealth Management LLC Acquires New Holdings in Reliance, Inc. (NYSE:RS)

Key Points

• Liberty Wealth Management LLC acquired a new stake in Reliance, Inc. during the first quarter, buying 17,325 shares valued at approximately $5 million.
• Reliance recently reported quarterly earnings of $4.43 EPS, falling short of the consensus estimate of $4.72, while its revenue remained steady at $3.66 billion.
• The company announced a quarterly dividend of $1.20 per share, with a payout ratio of 35.04% and an annualized yield of 1.7%.

Liberty Wealth Management LLC acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,325 shares of the industrial products company's stock, valued at approximately $5,003,000.

Other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC raised its stake in shares of Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Reliance in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC bought a new position in Reliance in the 1st quarter worth approximately $30,000. Coppell Advisory Solutions LLC increased its position 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 during the period. Finally, Transce3nd LLC bought a new position in Reliance in the 4th quarter worth approximately $58,000. 79.26% of the stock is owned by institutional investors.

Reliance Stock Performance

Shares of NYSE RS opened at $283.32 on Friday. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. The business's 50 day moving average is $313.01 and its two-hundred day moving average is $296.62. The company 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. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43.

Reliance (NYSE:RS - Get Free Report) last posted 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). Reliance had a return on equity of 10.48% and a net margin of 5.39%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts expect that Reliance, Inc. will post 16.98 EPS 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 issued a dividend of $1.20 per share. The ex-dividend date is Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance's payout ratio is presently 35.04%.

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.

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance, Inc. (NYSE:RS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.