FourThought Financial Partners LLC Sells 48 Shares of Reliance, Inc. (NYSE:RS)

FourThought Financial Partners LLC lowered its holdings in shares of Reliance, Inc. (NYSE:RS) by 3.5% during the 1st quarter, HoldingsChannel reports. The fund owned 1,337 shares of the industrial products company’s stock after selling 48 shares during the period. FourThought Financial Partners LLC’s holdings in Reliance were worth $386,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Reliance in the first quarter worth about $30,000. Coppell Advisory Solutions LLC raised its holdings in Reliance by 224.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company’s stock worth $49,000 after buying an additional 128 shares during the last quarter. Transce3nd LLC purchased a new position in Reliance in the fourth quarter worth about $58,000. Quarry LP raised its holdings in Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company’s stock worth $70,000 after buying an additional 118 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Reliance by 49.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company’s stock worth $99,000 after buying an additional 121 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 1.7%

Shares of Reliance stock opened at $306.32 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.58 and a current ratio of 3.18. The stock has a market capitalization of $16.11 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a 50-day simple moving average of $313.53 and a two-hundred day simple moving average of $295.94.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.29). The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $4.65 earnings per share. On average, analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.57%. Reliance’s payout ratio is 35.04%.

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.