Victory Capital Management Inc. decreased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,446 shares of the industrial products company's stock after selling 28,293 shares during the quarter. Victory Capital Management Inc. owned approximately 0.37% of Reliance worth $57,013,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Merewether Investment Management LP bought a new position in shares of Reliance during the 4th quarter worth about $9,963,000. Loomis Sayles & Co. L P boosted its position in shares of Reliance by 3.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 48,213 shares of the industrial products company's stock worth $12,982,000 after purchasing an additional 1,640 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Reliance by 38.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,697 shares of the industrial products company's stock worth $9,343,000 after buying an additional 9,642 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Reliance by 12.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,289 shares of the industrial products company's stock valued at $347,000 after purchasing an additional 145 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Reliance by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.
Reliance Trading Up 1.4%
NYSE RS traded up $4.87 during mid-day trading on Monday, reaching $341.08. 294,961 shares of the stock were exchanged, compared to its average volume of 387,237. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58. The stock has a market cap of $17.94 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.51 and a beta of 0.89. The stock has a 50 day simple moving average of $311.08 and a 200-day simple moving average of $294.14. Reliance, Inc. has a one year low of $250.07 and a one year high of $343.07.
Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (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 company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the firm posted $5.30 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.
Reliance Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, May 23rd. Reliance's dividend payout ratio is currently 34.41%.
About Reliance
(
Free Report)
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.
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