South Dakota Investment Council Purchases 10,491 Shares of Reliance, Inc. (NYSE:RS)

South Dakota Investment Council lifted its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 186.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,121 shares of the industrial products company's stock after buying an additional 10,491 shares during the quarter. South Dakota Investment Council's holdings in Reliance were worth $4,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Merewether Investment Management LP acquired a new stake in Reliance in the fourth quarter worth $9,963,000. Loomis Sayles & Co. L P increased its stake in shares of Reliance by 3.5% in 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 grew its holdings 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 valued at $9,343,000 after buying an additional 9,642 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Reliance by 12.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,289 shares of the industrial products company's stock valued at $347,000 after buying an additional 145 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Reliance by 17.4% during the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Trading Up 0.6%

Shares of NYSE RS traded up $2.05 during trading hours on Monday, hitting $338.26. The company's stock had a trading volume of 700,075 shares, compared to its average volume of 388,766. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 3.17. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.51 and a beta of 0.89. The business has a 50-day simple moving average of $311.08 and a 200-day simple moving average of $294.14. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $343.07.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. The firm had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.30 EPS. On average, analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was 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.