Telos Capital Management Inc. Invests $260,000 in Reliance, Inc. (NYSE:RS)

Telos Capital Management Inc. purchased a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 900 shares of the industrial products company's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RS. Norges Bank acquired a new stake in Reliance in the 4th quarter valued at approximately $186,255,000. American Century Companies Inc. increased its position in Reliance by 1,127.9% in the 4th quarter. American Century Companies Inc. now owns 426,986 shares of the industrial products company's stock valued at $114,971,000 after acquiring an additional 392,213 shares during the period. Price T Rowe Associates Inc. MD increased its position in Reliance by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock valued at $998,886,000 after acquiring an additional 319,576 shares during the period. GAMMA Investing LLC increased its position in Reliance by 33,792.2% in the 1st quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company's stock valued at $80,542,000 after acquiring an additional 278,110 shares during the period. Finally, First Trust Advisors LP increased its position in Reliance by 15.5% in 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 acquiring an additional 185,873 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

RS traded down $0.30 during trading hours on Monday, hitting $328.18. The company's stock had a trading volume of 243,604 shares, compared to its average volume of 400,769. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $333.71. 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 market capitalization of $17.26 billion, a PE ratio of 23.53, a PEG ratio of 1.48 and a beta of 0.89. The company has a 50-day simple moving average of $307.83 and a 200 day simple moving average of $292.02.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, beating the consensus estimate 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 firm's revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $5.30 EPS. As a group, sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders 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 dividend yield of 1.46%. Reliance's dividend payout ratio (DPR) is 34.41%.

About Reliance

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.