Mn Services Vermogensbeheer B.V. Trims Holdings in Reliance, Inc. (NYSE:RS)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,900 shares of the industrial products company's stock after selling 1,600 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Reliance were worth $6,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Investment Counsel Inc. boosted its holdings 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 acquiring an additional 39 shares during the period. 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 shares of Reliance by 11.1% in the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after acquiring an additional 40 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Reliance by 2.8% during the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after acquiring an additional 44 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Reliance by 4.9% during the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Reliance Trading Up 1.2%

Reliance stock opened at $309.52 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. The stock has a market capitalization of $16.28 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88. The business's fifty day moving average is $294.60 and its 200 day moving average is $288.54.

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

Reliance Dividend Announcement

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

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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