MQS Management LLC Invests $648,000 in Reliance, Inc. (NYSE:RS)

MQS Management LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,243 shares of the industrial products company's stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Reliance by 9.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after purchasing an additional 319,576 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Reliance by 10.4% during the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock worth $398,381,000 after purchasing an additional 138,866 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Reliance by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock worth $372,364,000 after purchasing an additional 185,873 shares during the last quarter. Boston Partners lifted its stake in shares of Reliance by 7.6% during the 4th quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock worth $192,894,000 after purchasing an additional 50,528 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Reliance during the 4th quarter worth $186,255,000. Institutional investors own 79.26% of the company's stock.

Reliance Trading Down 1.3%

Reliance stock opened at $328.09 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 3.17. The stock has a market cap of $17.25 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.89. The stock has a 50-day moving average of $307.83 and a two-hundred day moving average of $291.87. Reliance, Inc. has a one year low of $250.07 and a one year high of $333.71.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company earned $5.30 earnings per share. On average, research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, May 23rd. Reliance's dividend payout ratio is presently 34.41%.

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.

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