Teacher Retirement System of Texas Makes New $4.03 Million Investment in Reliance, Inc. (NYSE:RS)

Teacher Retirement System of Texas acquired a new position in Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,940 shares of the industrial products company's stock, valued at approximately $4,025,000.

Several other institutional investors have also added to or reduced their stakes in RS. Price T Rowe Associates Inc. MD increased its position in shares of Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after buying an additional 319,576 shares during the period. Wellington Management Group LLP lifted its stake in shares of Reliance by 10.4% in the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock valued at $398,381,000 after purchasing an additional 138,866 shares during the period. First Trust Advisors LP boosted its position in shares of Reliance by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock valued at $372,364,000 after purchasing an additional 185,873 shares in the last quarter. Boston Partners grew its stake in Reliance by 7.6% during the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock worth $192,894,000 after purchasing an additional 50,528 shares during the period. Finally, Norges Bank bought a new stake in Reliance in the fourth quarter worth approximately $186,255,000. 79.26% of the stock is currently owned by institutional investors.

Reliance Trading Up 0.2%

Shares of Reliance stock traded up $0.64 on Wednesday, reaching $328.06. 240,063 shares of the company's stock were exchanged, compared to its average volume of 387,839. The company has a market capitalization of $17.25 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.46 and a beta of 0.89. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $330.36. 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 firm's 50-day moving average is $305.57 and its two-hundred day moving average is $290.65.

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

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a $1.20 dividend. The ex-dividend date was Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.46%. Reliance's 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.