Burney Co. Has $5.84 Million Stake in Reliance, Inc. (NYSE:RS)

Burney Co. cut its position in Reliance, Inc. (NYSE:RS - Free Report) by 55.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,240 shares of the industrial products company's stock after selling 24,807 shares during the quarter. Burney Co.'s holdings in Reliance were worth $5,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Reliance in the 1st quarter valued at $30,000. Coppell Advisory Solutions LLC grew its position in Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after purchasing an additional 128 shares during the last quarter. Transce3nd LLC acquired a new stake in Reliance in the 4th quarter worth $58,000. Quarry LP grew its position in Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after purchasing an additional 118 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Reliance by 49.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company's stock worth $99,000 after purchasing an additional 121 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

NYSE RS traded down $41.88 during midday trading on Thursday, hitting $301.78. The company had a trading volume of 1,219,815 shares, compared to its average volume of 408,627. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15. The stock has a market cap of $15.87 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.49 and a beta of 0.89. The firm has a fifty day simple moving average of $313.46 and a two-hundred day simple moving average of $295.28. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a net margin of 5.65% and a return on equity of 10.77%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm posted $4.65 earnings per share. Reliance's revenue was up .5% on a year-over-year basis. Equities analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.59%. Reliance's dividend payout ratio (DPR) is presently 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.