SG Americas Securities LLC Increases Stock Holdings in Reliance, Inc. (NYSE:RS)

SG Americas Securities LLC boosted its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 567.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,629 shares of the industrial products company's stock after purchasing 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 institutional investors have also recently added to or reduced their stakes in RS. Coppell Advisory Solutions LLC grew its stake in Reliance by 224.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 128 shares during the period. Transce3nd LLC bought a new position in shares of Reliance in the fourth quarter valued at $58,000. Quarry LP grew its holdings in shares of Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after buying an additional 118 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after acquiring an additional 304 shares in the last quarter. Finally, Providence First Trust Co bought a new stake in shares of Reliance during the fourth quarter worth about $90,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Reliance Stock Up 1.2%

Shares of NYSE RS traded up $3.70 during trading on Tuesday, hitting $309.52. The stock had a trading volume of 349,320 shares, compared to its average volume of 396,296. The firm has a fifty day moving average of $294.00 and a two-hundred day moving average of $288.39. The company has a market capitalization of $16.28 billion, a PE ratio of 21.42, a PEG ratio of 1.36 and a beta of 0.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.66 by $0.11. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm posted $5.30 EPS. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts forecast 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 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 1.55%. Reliance's dividend payout ratio is currently 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.