Sage Rhino Capital LLC Buys Shares of 859 Reliance, Inc. (NYSE:RS)

Sage Rhino Capital LLC acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 859 shares of the industrial products company's stock, valued at approximately $248,000.

Several other institutional investors have also recently bought and sold shares of RS. Jones Financial Companies Lllp raised its position in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after acquiring an additional 304 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Reliance by 13.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 651 shares of the industrial products company's stock worth $175,000 after acquiring an additional 79 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Reliance during the fourth quarter worth $7,352,000. Raymond James Financial Inc. bought a new stake in shares of Reliance during the fourth quarter worth $20,640,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Reliance by 2.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,660 shares of the industrial products company's stock worth $2,332,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Trading Down 1.3%

Shares of RS stock traded down $4.47 on Friday, reaching $328.09. 368,597 shares of the stock were exchanged, compared to its average volume of 387,698. The stock has a market cap of $17.25 billion, a PE ratio of 23.52, a P/E/G ratio of 1.49 and a beta of 0.89. Reliance, Inc. has a one year low of $250.07 and a one year high of $333.71. 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 50 day moving average price of $307.83 and a 200 day moving average price of $291.73.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data 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 business 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 10.77% and a net margin of 5.65%. The firm's revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.30 earnings per share. Equities research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued 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 1.46%. Reliance's dividend payout ratio 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.