Stonegate Investment Group LLC Has $207,000 Stock Holdings in Reliance, Inc. (NYSE:RS)

Stonegate Investment Group LLC lessened its holdings in shares of Reliance, Inc. (NYSE:RS) by 11.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 717 shares of the industrial products company’s stock after selling 97 shares during the period. Stonegate Investment Group LLC’s holdings in Reliance were worth $207,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Johnson Investment Counsel Inc. grew its holdings in Reliance by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company’s stock worth $3,002,000 after acquiring an additional 39 shares during the period. Townsquare Capital LLC grew its holdings in Reliance by 3.1% during the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC grew its holdings in Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 40 shares during the period. Forum Financial Management LP grew its holdings in Reliance by 2.8% during the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company’s stock worth $436,000 after acquiring an additional 44 shares during the period. Finally, Lido Advisors LLC grew its holdings in Reliance by 4.9% during the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Trading Down 0.8%

RS opened at $306.47 on Monday. The stock has a market capitalization of $16.12 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.37 and a beta of 0.89. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The firm’s fifty day simple moving average is $296.34 and its 200 day simple moving average is $288.23. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, beating the consensus estimate of $3.66 by $0.11. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.30 EPS. As a group, research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a dividend of $1.20 per share. The ex-dividend date was Friday, May 23rd. This represents a $4.80 annualized dividend and a yield of 1.57%. Reliance’s dividend payout ratio (DPR) is presently 34.41%.

Wall Street Analyst Weigh In

Separately, KeyCorp boosted their price target on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Three investment 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, Reliance has a consensus rating of “Hold” and an average target price of $319.00.

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.