Voloridge Investment Management LLC Sells 80,699 Shares of Reliance, Inc. (NYSE:RS)

Voloridge Investment Management LLC trimmed its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 57.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,024 shares of the industrial products company's stock after selling 80,699 shares during the period. Voloridge Investment Management LLC owned 0.11% of Reliance worth $15,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RS. Price T Rowe Associates Inc. MD raised its position in shares of Reliance by 9.4% in 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 buying an additional 319,576 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Reliance by 10.4% in 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 buying an additional 138,866 shares in the last quarter. First Trust Advisors LP raised its position in shares of Reliance by 15.5% in 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 buying an additional 185,873 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock worth $219,841,000 after buying an additional 803,730 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock worth $195,402,000 after buying an additional 252,955 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Reliance Price Performance

NYSE RS traded down $4.97 during trading hours on Thursday, reaching $290.59. 113,800 shares of the stock traded hands, compared to its average volume of 393,765. The stock 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 1 year low of $250.07 and a 1 year 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 company has a market cap of $15.28 billion, a price-to-earnings ratio of 18.80 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.87% and a net margin of 6.33%. The company'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 predict 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 1.65%. Reliance's dividend payout ratio is currently 34.41%.

Analyst Ratings Changes

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