Reliance, Inc. (NYSE:RS) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,747 shares of the industrial products company’s stock after selling 3,980 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Reliance were worth $6,394,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RS. Barclays PLC grew its holdings in Reliance by 10.7% during the 3rd quarter. Barclays PLC now owns 76,131 shares of the industrial products company’s stock valued at $22,017,000 after buying an additional 7,373 shares during the last quarter. Blue Trust Inc. grew its holdings in Reliance by 35.4% during the 4th quarter. Blue Trust Inc. now owns 1,387 shares of the industrial products company’s stock valued at $401,000 after buying an additional 363 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Reliance by 8.4% during the 4th quarter. Perigon Wealth Management LLC now owns 1,101 shares of the industrial products company’s stock valued at $313,000 after buying an additional 85 shares during the last quarter. BSW Wealth Partners grew its holdings in Reliance by 23.5% during the 4th quarter. BSW Wealth Partners now owns 2,215 shares of the industrial products company’s stock valued at $596,000 after buying an additional 422 shares during the last quarter. Finally, Swedbank AB grew its holdings in Reliance by 1.6% during the 4th quarter. Swedbank AB now owns 43,568 shares of the industrial products company’s stock valued at $11,731,000 after buying an additional 687 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Reliance Price Performance

RS opened at $300.03 on Wednesday. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $326.87. The company’s 50 day simple moving average is $287.26 and its 200 day simple moving average is $289.77. The stock has a market capitalization of $15.78 billion, a PE ratio of 19.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21.

Reliance (NYSE:RS) last released 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 the consensus estimate of $3.44 billion. During the same period in the previous year, the firm earned $5.30 earnings per share. Reliance’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.60%. Reliance’s dividend payout ratio (DPR) 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.