United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Boosts Stock Position in Reliance, Inc. (NYSE:RS)

Key Points

• United Super Pty Ltd significantly increased its stake in Reliance, Inc. by 188.9% during the first quarter, owning 2,600 shares valued at approximately $751,000 as of the latest SEC filing.
• Reliance, Inc. reported earnings per share of $4.43 for the last quarter, which fell short of the consensus estimate of $4.72, while revenue was slightly up by 0.5% year-over-year.
• The company announced a quarterly dividend of $1.20 per share, translating to an annualized yield of 1.7% for shareholders of record.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 188.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,600 shares of the industrial products company's stock after purchasing an additional 1,700 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Reliance were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Cordatus Wealth Management LLC raised its holdings in shares of Reliance by 3.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company's stock worth $281,000 after acquiring an additional 35 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Reliance by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock valued at $3,200,000 after purchasing an additional 38 shares in the last quarter. Townsquare Capital LLC grew its holdings in Reliance by 3.1% during the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock worth $361,000 after buying an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its position in Reliance by 11.1% in the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after buying an additional 40 shares during the last quarter. Finally, Forum Financial Management LP boosted its holdings in Reliance by 2.8% during the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock worth $436,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Up 0.5%

Reliance stock traded up $1.45 during midday trading on Monday, hitting $284.88. 345,049 shares of the stock were exchanged, compared to its average volume of 477,509. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The business's 50-day moving average price is $313.01 and its 200-day moving average price is $296.70.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.29). The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 earnings per share. On average, research analysts expect 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, August 29th. Shareholders of record on Friday, August 15th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.7%. Reliance's payout ratio is currently 35.04%.

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.