Teacher Retirement System of Texas Takes Position 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,940 shares of the industrial products company's stock, valued at approximately $4,025,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Johnson Investment Counsel Inc. raised its position in shares of Reliance by 0.4% during 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 during the period. Townsquare Capital LLC grew its holdings in shares of Reliance by 3.1% during the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after buying an additional 40 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Reliance by 11.1% during the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after purchasing an additional 40 shares during the last quarter. Forum Financial Management LP grew its position in Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after purchasing an additional 44 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Reliance by 4.9% in the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Down 1.3%

Shares of NYSE:RS traded down $4.47 during trading on Friday, hitting $328.09. 368,597 shares of the company were exchanged, compared to its average volume of 387,941. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $333.71. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.47 and a beta of 0.89. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $307.21 and a two-hundred day moving average price of $291.33.

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

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a dividend of $1.20 per share. The ex-dividend date was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.46%. Reliance's payout ratio is 34.41%.

Reliance 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.