Reliance, Inc. (NYSE:RS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Reliance, Inc. (NYSE:RS - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 414,908 shares of the industrial products company's stock after selling 14,175 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.77% of Reliance worth $111,718,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RS. Coppell Advisory Solutions LLC increased its position in Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after buying an additional 128 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Reliance during the fourth quarter worth about $58,000. Quarry LP increased 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 acquiring an additional 118 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Reliance by 1,216.0% in the 4th 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 last quarter. Finally, Providence First Trust Co acquired a new stake in Reliance in the 4th quarter worth approximately $90,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Reliance Stock Performance

RS traded up $8.05 on Tuesday, reaching $300.03. 406,595 shares of the stock were exchanged, compared to its average volume of 395,495. The company's 50-day moving average price is $286.89 and its 200 day moving average price is $289.70. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. 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 firm has a market capitalization of $15.78 billion, a PE ratio of 19.43 and a beta of 0.91.

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 (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.11. The business had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.30 EPS. As a group, sell-side analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $1.20 dividend. The ex-dividend date is Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.60%. Reliance's dividend payout ratio (DPR) is presently 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.