Yousif Capital Management LLC Sells 375 Shares of Reliance, Inc. (NYSE:RS)

Yousif Capital Management LLC lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 1.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,039 shares of the industrial products company’s stock after selling 375 shares during the period. Yousif Capital Management LLC’s holdings in Reliance were worth $5,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RS. Coppell Advisory Solutions LLC lifted its holdings in shares of Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 128 shares in the last quarter. Transce3nd LLC acquired a new position in Reliance during the fourth quarter worth $58,000. Quarry LP lifted its stake in shares of Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company’s stock valued at $70,000 after buying an additional 118 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Reliance by 1,216.0% during the fourth quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock valued at $89,000 after buying an additional 304 shares during the last quarter. Finally, Providence First Trust Co bought a new stake in shares of Reliance during the fourth quarter worth about $90,000. 79.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Reliance Price Performance

Shares of NYSE:RS opened at $306.93 on Thursday. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock has a market cap of $16.14 billion, a PE ratio of 19.88 and a beta of 0.88. The stock’s fifty day simple moving average is $291.23 and its two-hundred day simple moving average is $289.14. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $326.87.

Reliance (NYSE:RS) last announced its earnings results 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. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the company posted $5.30 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced 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 of this dividend was Friday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.56%. Reliance’s dividend payout ratio is currently 34.41%.

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.