Foster & Motley Inc. Trims Stock Position in Reliance, Inc. (NYSE:RS)

Foster & Motley Inc. decreased its position in Reliance, Inc. (NYSE:RS) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,419 shares of the industrial products company’s stock after selling 108 shares during the period. Foster & Motley Inc.’s holdings in Reliance were worth $3,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company’s stock worth $998,886,000 after buying an additional 319,576 shares during the period. GAMMA Investing LLC lifted its holdings in Reliance by 33,792.2% during the 1st quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company’s stock worth $80,542,000 after buying an additional 278,110 shares in the last quarter. First Trust Advisors LP increased its position in shares of Reliance by 15.5% during the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company’s stock worth $372,364,000 after acquiring an additional 185,873 shares during the period. Northern Trust Corp raised its stake in shares of Reliance by 32.7% in the fourth quarter. Northern Trust Corp now owns 597,348 shares of the industrial products company’s stock valued at $160,842,000 after acquiring an additional 147,076 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Reliance by 23.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 633,578 shares of the industrial products company’s stock valued at $170,598,000 after purchasing an additional 121,078 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Performance

NYSE:RS opened at $295.33 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The firm has a market capitalization of $15.53 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.43 and a beta of 0.89. The business’s fifty day moving average price is $313.28 and its 200 day moving average price is $296.38.

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

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Friday, August 15th. Reliance’s payout ratio is currently 35.04%.

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.