Bessemer Group Inc. Reduces Stock Holdings in Reliance, Inc. (NYSE:RS)

Bessemer Group Inc. trimmed its position in Reliance, Inc. (NYSE:RS) by 74.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,755 shares of the industrial products company’s stock after selling 11,143 shares during the period. Bessemer Group Inc.’s holdings in Reliance were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp lifted its position in shares of Reliance by 16.9% during the 4th quarter. Truist Financial Corp now owns 1,399 shares of the industrial products company’s stock valued at $377,000 after buying an additional 202 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Reliance during the 4th quarter valued at approximately $7,352,000. Metis Global Partners LLC raised its stake in Reliance by 8.4% during the 4th quarter. Metis Global Partners LLC now owns 3,804 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 296 shares during the period. Jones Financial Companies Lllp raised its stake in Reliance by 1,216.0% during the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 304 shares during the period. Finally, Plato Investment Management Ltd raised its stake in Reliance by 14.3% during the 4th quarter. Plato Investment Management Ltd now owns 910 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 114 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Down 0.7%

Shares of RS opened at $314.50 on Tuesday. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $326.87. The business’s 50 day moving average is $300.69 and its 200 day moving average is $288.61. The company has a market capitalization of $16.54 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89.

Reliance (NYSE:RS) last released its quarterly earnings data 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 return on equity of 10.77% and a net margin of 5.65%. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the company posted $5.30 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. Research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Friday, May 23rd. Reliance’s payout ratio is 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.