CX Institutional Has $1.29 Million Stock Holdings in Reliance, Inc. (NYSE:RS)

CX Institutional grew its position in Reliance, Inc. (NYSE:RS) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,454 shares of the industrial products company’s stock after purchasing an additional 105 shares during the quarter. CX Institutional’s holdings in Reliance were worth $1,288,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RS. Acadian Asset Management LLC raised its position in shares of Reliance by 20.8% in the first quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock valued at $358,270,000 after purchasing an additional 184,509 shares during the period. Hsbc Holdings PLC increased its position in Reliance by 78.5% during the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock worth $82,816,000 after acquiring an additional 127,422 shares during the period. Principal Financial Group Inc. increased its position in Reliance by 21.5% during the first quarter. Principal Financial Group Inc. now owns 348,534 shares of the industrial products company’s stock worth $116,473,000 after acquiring an additional 61,687 shares during the period. Dimensional Fund Advisors LP increased its position in Reliance by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company’s stock worth $333,809,000 after acquiring an additional 53,747 shares during the period. Finally, Victory Capital Management Inc. increased its position in Reliance by 21.1% during the second quarter. Victory Capital Management Inc. now owns 202,628 shares of the industrial products company’s stock worth $57,871,000 after acquiring an additional 35,336 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Up 0.5 %

Shares of Reliance stock opened at $292.16 on Thursday. The firm has a market capitalization of $16.78 billion, a PE ratio of 13.65 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43. The company’s fifty day moving average price is $282.40 and its two-hundred day moving average price is $293.09. Reliance, Inc. has a 52-week low of $237.14 and a 52-week high of $342.20.

Reliance (NYSE:RS) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.08). The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Reliance had a net margin of 7.99% and a return on equity of 14.73%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $6.49 EPS. On average, analysts expect that Reliance, Inc. will post 17.16 EPS for the current year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $1.10 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.40 annualized dividend and a dividend yield of 1.51%. Reliance’s dividend payout ratio is presently 20.55%.

Analyst Upgrades and Downgrades

RS has been the topic of a number of research reports. Bank of America dropped their target price on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. KeyCorp dropped their target price on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Wolfe Research lowered shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Reliance presently has an average rating of “Hold” and a consensus price target of $329.40.

About Reliance

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.