Yacktman Asset Management LP Has $220.37 Million Holdings in Reliance, Inc. (NYSE:RS)

Yacktman Asset Management LP cut its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 11.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 763,184 shares of the industrial products company's stock after selling 93,913 shares during the quarter. Reliance accounts for 2.9% of Yacktman Asset Management LP's portfolio, making the stock its 11th largest position. Yacktman Asset Management LP owned about 1.44% of Reliance worth $220,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RS. Oregon Public Employees Retirement Fund increased its holdings in 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 worth $3,200,000 after buying an additional 38 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in Reliance by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock valued at $3,002,000 after acquiring an additional 39 shares in the last quarter. Townsquare Capital LLC raised its position in Reliance by 3.1% during the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after acquiring an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its position in Reliance by 11.1% during the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 40 shares in the last quarter. Finally, Forum Financial Management LP raised its position in Reliance by 2.8% during the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after acquiring an additional 44 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

RS stock traded down $4.47 on Friday, reaching $328.09. 368,597 shares of the company were exchanged, compared to its average volume of 387,941. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $333.71. The stock's fifty day moving average price is $307.21 and its 200 day moving average price is $291.33. The firm has a market capitalization of $17.25 billion, a PE ratio of 23.52, a PEG ratio of 1.47 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.17 and a quick ratio of 1.58.

Reliance (NYSE:RS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.66 by $0.11. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the previous year, the firm posted $5.30 earnings per share. Reliance's revenue was down 4.4% compared to the same quarter last year. On average, research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, May 23rd. Reliance's dividend payout ratio (DPR) is presently 34.41%.

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.