UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 14,175 Shares of Reliance, Inc. (NYSE:RS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Reliance, Inc. (NYSE:RS - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 0.77% of Reliance worth $111,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock worth $998,886,000 after acquiring an additional 319,576 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Reliance by 10.4% during the fourth quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock worth $398,381,000 after acquiring an additional 138,866 shares in the last quarter. First Trust Advisors LP lifted its holdings in Reliance by 15.5% during the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock worth $372,364,000 after acquiring an additional 185,873 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Reliance by 6,311.2% during the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock worth $219,841,000 after acquiring an additional 803,730 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Reliance by 53.5% during the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock worth $195,402,000 after acquiring an additional 252,955 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Down 1.4%

Shares of RS traded down $4.28 during midday trading on Thursday, hitting $291.28. The stock had a trading volume of 120,807 shares, compared to its average volume of 393,805. The company has a 50 day simple moving average of $287.63 and a two-hundred day simple moving average of $289.81. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $326.87. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 18.89 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.

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

Reliance Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.65%. 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 lifted their target price on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.