Strategic Family Wealth Counselors L.L.C. Purchases 1,510 Shares of Reliance, Inc. (NYSE:RS)

Key Points

• Strategic Family Wealth Counselors L.L.C. increased its stake in Reliance, Inc. by 91.3%, now holding 3,163 shares valued at approximately $913,000.
• The company reported $4.43 earnings per share for the quarter, missing expectations, while revenue remained flat at $3.66 billion.
• Reliance announced a quarterly dividend of $1.20 per share, translating to an annualized yield of 1.7%.

Strategic Family Wealth Counselors L.L.C. boosted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 91.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,163 shares of the industrial products company's stock after purchasing an additional 1,510 shares during the quarter. Strategic Family Wealth Counselors L.L.C.'s holdings in Reliance were worth $913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TCTC Holdings LLC lifted its holdings in Reliance by 138.9% during the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after buying an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in shares of Reliance during the 1st quarter worth approximately $30,000. Coppell Advisory Solutions LLC boosted its position in shares of Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after purchasing an additional 128 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Reliance during the fourth quarter worth $58,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Trading Up 0.5%

NYSE:RS traded up $1.45 during mid-day trading on Monday, hitting $284.88. The company had a trading volume of 345,049 shares, compared to its average volume of 477,509. The firm has a market cap of $14.98 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.35 and a beta of 0.89. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The business's fifty day moving average is $313.01 and its two-hundred day moving average is $296.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm's revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Reliance's dividend payout ratio is presently 35.04%.

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.