Compagnie Lombard Odier SCmA Sells 1,020 Shares of Reliance, Inc. (NYSE:RS)

Compagnie Lombard Odier SCmA trimmed its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,344 shares of the industrial products company's stock after selling 1,020 shares during the quarter. Compagnie Lombard Odier SCmA owned 0.07% of Reliance worth $10,206,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Reliance in the 4th quarter valued at $7,352,000. Merewether Investment Management LP purchased a new stake in Reliance in the 4th quarter valued at $9,963,000. Loomis Sayles & Co. L P raised its position in Reliance by 3.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 48,213 shares of the industrial products company's stock valued at $12,982,000 after buying an additional 1,640 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Reliance by 38.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,697 shares of the industrial products company's stock valued at $9,343,000 after buying an additional 9,642 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Reliance by 15.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,010 shares of the industrial products company's stock valued at $3,503,000 after purchasing an additional 1,700 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Reliance Price Performance

NYSE RS traded up $2.48 during trading hours on Thursday, hitting $310.12. The company had a trading volume of 558,526 shares, compared to its average volume of 397,499. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $326.87. The firm has a 50 day simple moving average of $292.17 and a 200 day simple moving average of $289.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The firm has a market capitalization of $16.31 billion, a price-to-earnings ratio of 20.09 and a beta of 0.88.

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, beating analysts' consensus estimates of $3.66 by $0.11. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the company posted $5.30 EPS. Equities research analysts expect 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 paid a $1.20 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.55%. Reliance's dividend payout ratio (DPR) is currently 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.