SG Americas Securities LLC Has $1.63 Million Stock Position in Reliance, Inc. (NYSE:RS)

SG Americas Securities LLC raised its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 567.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,629 shares of the industrial products company's stock after acquiring an additional 4,786 shares during the quarter. SG Americas Securities LLC's holdings in Reliance were worth $1,625,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RS. Johnson Investment Counsel Inc. lifted its stake in shares of Reliance by 0.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock valued at $3,002,000 after purchasing an additional 39 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after acquiring an additional 40 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Reliance by 2.8% during the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after acquiring an additional 44 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Reliance by 4.9% in the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Reliance Stock Performance

Shares of Reliance stock traded down $1.22 during trading on Thursday, reaching $308.52. The company's stock had a trading volume of 411,390 shares, compared to its average volume of 396,260. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. 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 firm has a market cap of $16.23 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.88. The business's fifty day moving average price is $295.18 and its 200-day moving average price is $288.68.

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

Reliance Dividend Announcement

The business 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. The ex-dividend date was Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.56%. Reliance's dividend payout ratio is 34.41%.

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.