New Age Alpha Advisors LLC Acquires 25,528 Shares of Reliance, Inc. (NYSE:RS)

Key Points

• New Age Alpha Advisors LLC significantly increased its holdings in Reliance, Inc. by 5,167.6%, purchasing an additional 25,528 shares, bringing its total to 26,022 shares valued at over $7.5 million.
• Reliance reported a quarterly EPS of $4.43, which missed the consensus estimate of $4.72, although its revenue showed a slight year-over-year increase of 0.5% to $3.66 billion.
• The company announced a quarterly dividend of $1.20, set to be paid out on August 29th, reflecting an annualized dividend yield of 1.7% and a payout ratio of 35.04%.

New Age Alpha Advisors LLC grew its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 5,167.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,022 shares of the industrial products company's stock after purchasing an additional 25,528 shares during the period. New Age Alpha Advisors LLC's holdings in Reliance were worth $7,514,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC increased its holdings 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 worth $25,000 after purchasing an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Reliance in the 1st quarter worth $29,000. Wayfinding Financial LLC bought a new stake in shares of Reliance in the 1st quarter worth $30,000. Coppell Advisory Solutions LLC increased its holdings in shares of 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 purchasing an additional 128 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Reliance in the 4th quarter worth $58,000. Institutional investors own 79.26% of the company's stock.

Reliance Stock Up 0.5%

Reliance stock opened at $284.88 on Tuesday. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.35 and a beta of 0.89. The stock has a fifty day simple moving average of $312.87 and a two-hundred day simple moving average of $296.68.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $3.66 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business's revenue was up .5% on a year-over-year basis. Equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company 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 $1.20 dividend. The ex-dividend date of this dividend 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.

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