IFM Investors Pty Ltd Buys 2,217 Shares of Reliance, Inc. (NYSE:RS)

IFM Investors Pty Ltd increased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,021 shares of the industrial products company's stock after buying an additional 2,217 shares during the period. IFM Investors Pty Ltd's holdings in Reliance were worth $5,212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund boosted its position in Reliance by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock worth $3,200,000 after buying an additional 38 shares during the period. Johnson Investment Counsel Inc. boosted its position in Reliance by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock worth $3,002,000 after buying an additional 39 shares during the period. Townsquare Capital LLC lifted its position in shares of Reliance by 3.1% in the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Reliance by 11.1% in the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after purchasing an additional 40 shares during the period. Finally, Forum Financial Management LP lifted its position in shares of Reliance by 2.8% in the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock worth $436,000 after purchasing an additional 44 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Trading Up 1.3%

Shares of NYSE RS traded up $4.24 during midday trading on Thursday, reaching $332.16. The stock had a trading volume of 346,102 shares, compared to its average volume of 387,673. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $334.16. 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 company's 50 day moving average price is $306.37 and its 200 day moving average price is $290.91.

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

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $1.20 dividend. The ex-dividend date was Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.45%. Reliance's dividend payout ratio is currently 34.41%.

About Reliance

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.