New York State Common Retirement Fund Has $24.65 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

New York State Common Retirement Fund lowered its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,352 shares of the industrial products company's stock after selling 30,700 shares during the quarter. New York State Common Retirement Fund owned 0.16% of Reliance worth $24,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Ballentine Partners LLC acquired a new position in shares of Reliance during the first quarter worth approximately $214,000. Xponance Inc. grew its position in Reliance by 0.5% in the first quarter. Xponance Inc. now owns 9,245 shares of the industrial products company's stock valued at $2,669,000 after purchasing an additional 45 shares in the last quarter. Sage Rhino Capital LLC bought a new position in Reliance in the first quarter valued at $248,000. Genus Capital Management Inc. grew its position in Reliance by 199.6% in the first quarter. Genus Capital Management Inc. now owns 1,175 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 2,355 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of Reliance by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 13,397 shares of the industrial products company's stock worth $3,868,000 after buying an additional 200 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

Reliance stock traded up $5.27 during midday trading on Thursday, hitting $331.21. The company's stock had a trading volume of 128,658 shares, compared to its average volume of 385,474. The company has a 50-day moving average price of $309.57 and a two-hundred day moving average price of $292.86. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $333.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58. The company has a market cap of $17.42 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.45 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.11. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The firm had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. During the same period in the prior year, the company posted $5.30 EPS. The company's revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, May 23rd. Reliance's dividend payout ratio (DPR) is currently 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.