Mutual of America Capital Management LLC Has $9.39 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

Mutual of America Capital Management LLC cut its stake in shares of Reliance, Inc. (NYSE:RS) by 4.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,881 shares of the industrial products company’s stock after selling 1,361 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Reliance worth $9,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sei Investments Co. raised its position in Reliance by 13.1% during the first quarter. Sei Investments Co. now owns 51,053 shares of the industrial products company’s stock valued at $17,062,000 after buying an additional 5,902 shares during the period. UBS Group AG increased its holdings in shares of Reliance by 262.0% in the 4th quarter. UBS Group AG now owns 45,016 shares of the industrial products company’s stock valued at $12,590,000 after purchasing an additional 32,580 shares during the period. Bessemer Group Inc. lifted its position in shares of Reliance by 2,870.9% in the first quarter. Bessemer Group Inc. now owns 3,981 shares of the industrial products company’s stock worth $1,331,000 after purchasing an additional 3,847 shares in the last quarter. MMCAP International Inc. SPC acquired a new stake in shares of Reliance during the fourth quarter worth approximately $845,000. Finally, Russell Investments Group Ltd. grew its position in Reliance by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 159,878 shares of the industrial products company’s stock valued at $53,644,000 after purchasing an additional 2,985 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Stock Performance

Shares of RS opened at $277.11 on Thursday. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 12.94 and a beta of 0.85. The company’s fifty day moving average is $287.16 and its 200-day moving average is $298.61. The company has a quick ratio of 2.43, a current ratio of 5.02 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a 12 month low of $237.14 and a 12 month high of $342.20.

Reliance (NYSE:RS) last posted its earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.08). Reliance had a return on equity of 14.73% and a net margin of 7.99%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the company earned $6.49 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts expect that Reliance, Inc. will post 17.21 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.40 annualized dividend and a yield of 1.59%. Reliance’s dividend payout ratio (DPR) is currently 20.55%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RS. KeyCorp decreased their target price on shares of Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, July 3rd. Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective for the company. in a research report on Friday, July 26th. Finally, Bank of America dropped their target price on Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Reliance currently has an average rating of “Hold” and an average target price of $329.40.

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.