Cerity Partners LLC Sells 17,639 Shares of Reliance, Inc. (NYSE:RS)

Cerity Partners LLC lowered its holdings in Reliance, Inc. (NYSE:RS) by 89.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,971 shares of the industrial products company’s stock after selling 17,639 shares during the period. Cerity Partners LLC’s holdings in Reliance were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Merewether Investment Management LP bought a new stake in shares of Reliance during the 4th quarter worth about $9,963,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Reliance by 38.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,697 shares of the industrial products company’s stock worth $9,343,000 after acquiring an additional 9,642 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Reliance by 3.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 48,213 shares of the industrial products company’s stock valued at $12,982,000 after purchasing an additional 1,640 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Reliance by 12.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,289 shares of the industrial products company’s stock worth $347,000 after purchasing an additional 145 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Reliance by 17.4% during the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 143 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 1.7%

RS opened at $306.32 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.58 and a current ratio of 3.18. The stock has a fifty day moving average of $313.53 and a 200-day moving average of $295.74. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The company has a market capitalization of $16.11 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.32 and a beta of 0.89.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the firm earned $4.65 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, August 15th. Reliance’s payout ratio is 35.04%.

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.