Mn Services Vermogensbeheer B.V. Cuts Stock Position in Reliance, Inc. (NYSE:RS)

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,900 shares of the industrial products company's stock after selling 1,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Reliance were worth $6,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Johnson Investment Counsel Inc. raised its position in Reliance by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock valued at $3,002,000 after purchasing an additional 39 shares during the last quarter. Townsquare Capital LLC raised its position in Reliance by 3.1% during the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC raised its position in Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after purchasing an additional 40 shares during the last quarter. Forum Financial Management LP raised its position in Reliance by 2.8% during the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after purchasing an additional 44 shares during the last quarter. Finally, Lido Advisors LLC raised its position in Reliance by 4.9% during the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Ratings Changes

Separately, KeyCorp upped their price target on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Reliance has a consensus rating of "Hold" and a consensus price target of $319.00.

Reliance Stock Down 0.8%

Shares of NYSE:RS traded down $2.58 during trading on Friday, hitting $306.47. The stock had a trading volume of 1,232,971 shares, compared to its average volume of 394,683. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The company has a market capitalization of $16.12 billion, a PE ratio of 21.97, a PEG ratio of 1.37 and a beta of 0.88. The firm's fifty day moving average is $296.34 and its 200 day moving average is $288.37. 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, topping the consensus estimate of $3.66 by $0.11. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the company earned $5.30 EPS. The business's revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, May 23rd. Reliance's dividend payout ratio is currently 34.41%.

About Reliance

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.