Vise Technologies Inc. Invests $268,000 in Reliance, Inc. (NYSE:RS)

Vise Technologies Inc. acquired a new position in Reliance, Inc. (NYSE:RS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 996 shares of the industrial products company's stock, valued at approximately $268,000.

Other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC grew its position in shares of Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after buying an additional 128 shares during the period. Transce3nd LLC purchased a new stake in shares of Reliance in the 4th quarter worth about $58,000. Quarry LP grew its position in shares of Reliance by 83.7% in the 4th quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after buying an additional 118 shares during the period. Jones Financial Companies Lllp grew 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 worth $89,000 after buying an additional 304 shares during the period. Finally, Providence First Trust Co purchased a new stake in shares of Reliance in the 4th quarter worth about $90,000. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Up 0.2%

RS stock traded up $0.54 during trading on Friday, hitting $292.48. 695,521 shares of the stock traded hands, compared to its average volume of 394,961. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $326.87. The firm's 50 day moving average is $287.69 and its two-hundred day moving average is $289.09. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 18.94 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 announced its quarterly 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 firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.30 EPS. On average, sell-side analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, May 23rd. Reliance's payout ratio is presently 34.41%.

Wall Street Analyst Weigh In

Separately, KeyCorp increased their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.