Envestnet Asset Management Inc. Acquires 4,677 Shares of Reliance, Inc. (NYSE:RS)

Envestnet Asset Management Inc. boosted its holdings in Reliance, Inc. (NYSE:RS) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,579 shares of the industrial products company’s stock after buying an additional 4,677 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Reliance worth $22,690,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Reliance in the 1st quarter valued at $30,000. Coppell Advisory Solutions LLC boosted its stake 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 purchasing an additional 128 shares in the last quarter. Transce3nd LLC acquired a new position in Reliance in the fourth quarter worth $58,000. Quarry LP boosted its stake in Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 118 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Reliance by 49.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 121 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Reliance Trading Down 1.7%

NYSE RS opened at $322.45 on Wednesday. The stock has a 50-day simple moving average of $309.00 and a 200 day simple moving average of $292.63. The company has a market capitalization of $16.96 billion, a PE ratio of 23.11, a P/E/G ratio of 1.47 and a beta of 0.89. 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 $333.71.

Reliance (NYSE:RS) last posted 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 during the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the company earned $5.30 earnings per share. Reliance’s quarterly revenue was down 4.4% on a year-over-year basis. Research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.49%. Reliance’s dividend payout ratio (DPR) is presently 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.