Reliance, Inc. (NYSE:RS) Stock Holdings Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 988,234 shares of the industrial products company's stock after selling 104,723 shares during the period. Dimensional Fund Advisors LP owned about 1.83% of Reliance worth $266,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in Reliance by 10.4% during the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company's stock worth $398,381,000 after acquiring an additional 138,866 shares in the last quarter. First Trust Advisors LP grew its stake in Reliance by 15.5% in the fourth quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock worth $372,364,000 after purchasing an additional 185,873 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Reliance by 6,311.2% in the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company's stock valued at $219,841,000 after buying an additional 803,730 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company's stock valued at $195,402,000 after buying an additional 252,955 shares during the last quarter. Finally, Boston Partners raised its stake in Reliance by 7.6% during the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company's stock valued at $192,894,000 after buying an additional 50,528 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

NYSE RS traded down $0.62 during trading hours on Friday, hitting $284.54. The company had a trading volume of 301,908 shares, compared to its average volume of 402,595. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The firm has a market cap of $15.05 billion, a P/E ratio of 18.43 and a beta of 0.83. The company has a quick ratio of 1.58, a current ratio of 3.21 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $283.72 and a 200-day simple moving average of $289.53.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.11. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. Equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, May 23rd. Reliance's dividend payout ratio is currently 31.09%.

Insider Activity

In other news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the sale, the chief executive officer now owns 90,230 shares in the company, valued at $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

RS has been the subject of several recent research reports. Wolfe Research upgraded shares of Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. KeyCorp boosted their price objective 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Reliance has an average rating of "Hold" and a consensus price target 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.