Reliance, Inc. (NYSE:RS) Stock Holdings Raised by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 151.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800 shares of the industrial products company's stock after purchasing an additional 5,300 shares during the period. Two Sigma Advisers LP's holdings in Reliance were worth $2,369,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RS. Coppell Advisory Solutions LLC boosted its position in Reliance by 224.6% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after acquiring an additional 128 shares during the last quarter. Transce3nd LLC acquired a new stake in Reliance during the fourth quarter worth approximately $58,000. Quarry LP boosted its position in Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after acquiring an additional 118 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after acquiring an additional 304 shares during the last quarter. Finally, Providence First Trust Co acquired a new stake in Reliance during the fourth quarter worth approximately $90,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp lifted their price target on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Reliance presently has an average rating of "Hold" and an average price target of $319.00.

Reliance Stock Up 0.2%

Reliance stock traded up $0.54 during midday trading on Friday, hitting $292.48. 695,521 shares of the stock were exchanged, compared to its average volume of 394,961. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $326.87. The firm has a market cap of $15.38 billion, a P/E ratio of 18.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The company has a 50 day moving average price of $287.69 and a two-hundred day moving average price of $289.24.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.11. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the firm posted $5.30 EPS. The firm's quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, May 23rd. 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.