Reliance, Inc. (NYSE:RS) Holdings Raised by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Reliance, Inc. (NYSE:RS) by 567.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,629 shares of the industrial products company’s stock after purchasing an additional 4,786 shares during the quarter. SG Americas Securities LLC’s holdings in Reliance were worth $1,625,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Coppell Advisory Solutions LLC lifted its holdings in Reliance by 224.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 128 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Reliance during the 4th quarter worth approximately $58,000. Quarry LP lifted its holdings 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 purchasing an additional 118 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 304 shares during the period. Finally, Providence First Trust Co bought a new position in shares of Reliance during the fourth quarter worth about $90,000. 79.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp increased their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $319.00.

Reliance Price Performance

Shares of RS opened at $309.99 on Monday. Reliance, Inc. has a one year low of $250.07 and a one year high of $326.87. The stock’s fifty day moving average is $293.13 and its 200-day moving average is $288.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of 20.08 and a beta of 0.88.

Reliance (NYSE:RS) last announced 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. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the firm posted $5.30 EPS. Reliance’s revenue was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a $1.20 dividend. The ex-dividend date was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.55%. Reliance’s dividend payout ratio (DPR) is 34.41%.

Reliance Company 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.