Quantinno Capital Management LP Has $1.54 Million Position in Reliance, Inc. (NYSE:RS)

Quantinno Capital Management LP raised its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,723 shares of the industrial products company's stock after buying an additional 1,165 shares during the period. Quantinno Capital Management LP's holdings in Reliance were worth $1,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. Barclays PLC increased its stake in shares of Reliance by 10.7% during the 3rd quarter. Barclays PLC now owns 76,131 shares of the industrial products company's stock worth $22,017,000 after purchasing an additional 7,373 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Reliance by 18.1% during the 4th quarter. Park Avenue Securities LLC now owns 2,037 shares of the industrial products company's stock worth $549,000 after purchasing an additional 312 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Reliance by 52.8% during the 4th quarter. HB Wealth Management LLC now owns 1,209 shares of the industrial products company's stock worth $326,000 after purchasing an additional 418 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Reliance by 41.8% during the 4th quarter. UMB Bank n.a. now owns 353 shares of the industrial products company's stock worth $95,000 after purchasing an additional 104 shares during the last quarter. Finally, CX Institutional increased its stake in shares of Reliance by 5.8% during the 4th quarter. CX Institutional now owns 4,713 shares of the industrial products company's stock worth $1,269,000 after purchasing an additional 259 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

Shares of RS stock opened at $295.36 on Friday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 19.13 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The company has a 50-day simple moving average of $286.48 and a 200 day simple moving average of $290.37. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87.

Reliance (NYSE:RS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS 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 net margin of 6.33% and a return on equity of 11.87%. Reliance's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.30 EPS. On average, sell-side analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, May 23rd. Reliance's payout ratio is 34.41%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the sale, the chief executive officer now owns 90,230 shares of the company's stock, valued at $27,115,919.60. The trade was a 25.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

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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