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

Telos Capital Management Inc. acquired a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 900 shares of the industrial products company's stock, valued at approximately $260,000.

Other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in shares of Reliance in the 1st quarter valued at $30,000. Coppell Advisory Solutions LLC grew its holdings in Reliance by 224.6% in the fourth 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 period. Transce3nd LLC bought a new stake in Reliance in the fourth quarter valued at $58,000. Quarry LP raised its holdings in shares of Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 118 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 304 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Stock Down 1.3%

Shares of RS traded down $4.47 during trading hours on Friday, hitting $328.09. The stock had a trading volume of 368,597 shares, compared to its average volume of 387,698. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $333.71. The firm has a market capitalization of $17.25 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. The firm has a 50 day simple moving average of $307.83 and a 200-day simple moving average of $291.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data 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. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the company posted $5.30 earnings per share. The company'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 firm 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 1.46%. The ex-dividend date was Friday, May 23rd. Reliance's payout ratio is presently 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.