Natixis Advisors LLC Raises Stock Position in Reliance, Inc. (NYSE:RS)

Key Points

• Natixis Advisors LLC increased its stake in Reliance, Inc. by 9.8% in Q1, holding 18,607 shares valued at approximately $5.37 million.
• Reliance's stock experienced a 0.7% decline recently, trading at $285.78, with a 52-week range between $250.07 and $347.43.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 1.7% and a payout ratio of 35.04%.

Natixis Advisors LLC increased its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 9.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,607 shares of the industrial products company's stock after buying an additional 1,664 shares during the quarter. Natixis Advisors LLC's holdings in Reliance were worth $5,373,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd boosted its stake in shares of Reliance by 229.9% during the first quarter. Bayforest Capital Ltd now owns 1,138 shares of the industrial products company's stock worth $329,000 after buying an additional 793 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Reliance during the 1st quarter valued at approximately $29,000. TCTC Holdings LLC lifted its position in Reliance by 138.9% during the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after acquiring an additional 50 shares during the period. Meeder Advisory Services Inc. grew its stake in shares of Reliance by 7.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 942 shares of the industrial products company's stock valued at $272,000 after purchasing an additional 65 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Reliance by 9.7% in the first quarter. Mackenzie Financial Corp now owns 4,857 shares of the industrial products company's stock valued at $1,402,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Performance

Shares of Reliance stock traded down $0.80 during trading hours on Thursday, hitting $285.18. 360,102 shares of the company were exchanged, compared to its average volume of 413,221. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $312.32 and a 200-day moving average of $296.52. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 1.37 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 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 firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the business posted $4.65 EPS. The firm's revenue was up .5% on a year-over-year basis. As a group, analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Reliance's dividend payout ratio is currently 35.04%.

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.