UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Reliance, Inc. (NYSE:RS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414,908 shares of the industrial products company's stock after selling 14,175 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.77% of Reliance worth $111,718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quent Capital LLC increased its stake in shares of Reliance by 4.1% in the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 37 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in Reliance by 0.4% in 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 increased its stake in Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 40 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of Reliance by 2.8% during 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 during the period. Finally, Lido Advisors LLC boosted its position in shares of Reliance by 4.9% during the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock worth $269,000 after purchasing an additional 47 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Down 1.7%

Shares of NYSE RS traded down $5.19 during mid-day trading on Wednesday, reaching $295.05. 219,359 shares of the company's stock traded hands, compared to its average volume of 394,794. 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 business has a 50-day simple moving average of $287.26 and a 200 day simple moving average of $289.77. The stock has a market cap of $15.52 billion, a P/E ratio of 19.11 and a beta of 0.91. 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 announced its quarterly earnings results 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. The business had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.30 EPS. On average, analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.63%. Reliance's dividend payout ratio (DPR) is currently 34.41%.

Wall Street Analyst Weigh In

Separately, KeyCorp boosted their target price on Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research 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 stock. According to MarketBeat.com, Reliance has a consensus rating of "Hold" and a consensus target price of $319.00.

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.