Rhumbline Advisers Has $50.49 Million Position in Reliance, Inc. (NYSE:RS)

Rhumbline Advisers lessened its stake in Reliance, Inc. (NYSE:RS - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,867 shares of the industrial products company's stock after selling 6,258 shares during the quarter. Rhumbline Advisers owned 0.33% of Reliance worth $50,493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RS. Quent Capital LLC lifted its position in shares of Reliance by 4.1% in the fourth quarter. Quent Capital LLC now owns 941 shares of the industrial products company's stock worth $253,000 after purchasing an additional 37 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Reliance by 0.4% in the fourth 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 lifted its position in shares of Reliance by 3.1% in the fourth 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. Forum Financial Management LP lifted its position in shares of Reliance by 2.8% in the fourth 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 in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock worth $269,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Analysts Set New Price Targets

Separately, KeyCorp boosted their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Reliance currently has a consensus rating of "Hold" and an average price target of $319.00.

Reliance Stock Performance

RS stock traded down $1.32 during trading hours on Thursday, reaching $307.25. The stock had a trading volume of 311,146 shares, compared to its average volume of 396,228. The stock has a market capitalization of $16.16 billion, a PE ratio of 19.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The stock has a 50-day simple moving average of $288.58 and a 200 day simple moving average of $289.30. Reliance, Inc. has a fifty-two week low of $240.90 and a fifty-two week high of $326.87.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 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 analysts' expectations of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $5.30 earnings per share. Analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance's dividend payout ratio 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.