Bank of New York Mellon Corp Has $144.70 Million Position in Reliance, Inc. (NYSE:RS)

Bank of New York Mellon Corp lowered its position in Reliance, Inc. (NYSE:RS - Free Report) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 501,113 shares of the industrial products company's stock after selling 2,287 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Reliance worth $144,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in Reliance by 0.3% during the first 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 in the last quarter. Johnson Investment Counsel Inc. grew 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 purchasing an additional 39 shares in the last quarter. Townsquare Capital LLC grew its position in Reliance by 3.1% during 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 in the last quarter. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 40 shares in the last quarter. Finally, Forum Financial Management LP grew 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 in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Down 1.3%

Shares of Reliance stock traded down $4.47 on Friday, hitting $328.09. 368,597 shares of the company traded hands, compared to its average volume of 387,941. The company has a 50-day moving average price of $307.21 and a 200 day moving average price of $291.33. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $333.71. The company has a market cap of $17.25 billion, a PE ratio of 23.52, a PEG ratio of 1.47 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 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 business had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same period in the previous year, the company posted $5.30 EPS. Reliance's revenue was down 4.4% on a year-over-year basis. Sell-side analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a dividend of $1.20 per share. The ex-dividend date was Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.46%. Reliance's dividend payout ratio (DPR) is presently 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.