Two Sigma Advisers LP grew its stake in Reliance, Inc. (NYSE:RS - Free Report) by 151.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,800 shares of the industrial products company's stock after purchasing an additional 5,300 shares during the quarter. Two Sigma Advisers LP's holdings in Reliance were worth $2,369,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Reliance in the fourth quarter worth $7,352,000. Merewether Investment Management LP bought a new position in shares of Reliance in the 4th quarter worth about $9,963,000. Loomis Sayles & Co. L P boosted its holdings in shares of Reliance by 3.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 48,213 shares of the industrial products company's stock valued at $12,982,000 after buying an additional 1,640 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Reliance by 38.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,697 shares of the industrial products company's stock valued at $9,343,000 after buying an additional 9,642 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Reliance by 15.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,010 shares of the industrial products company's stock valued at $3,503,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 79.26% of the company's stock.
Reliance Stock Performance
Shares of RS traded up $9.19 during midday trading on Monday, hitting $302.01. 491,523 shares of the stock traded hands, compared to its average volume of 395,339. The business's 50 day moving average price is $287.84 and its two-hundred day moving average price is $289.04. The firm has a market capitalization of $15.88 billion, a PE ratio of 19.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $326.87.
Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating 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 period last year, the firm posted $5.30 EPS. Reliance's quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.
Reliance Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance's dividend payout ratio is currently 34.41%.
Analyst Ratings Changes
Separately, KeyCorp raised their target price on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $319.00.
Check Out Our Latest Research Report on RS
About Reliance
(
Free Report)
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.
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