Reliance, Inc. (NYSE:RS) Stock Holdings Raised by Headlands Technologies LLC

Headlands Technologies LLC lifted its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 1,463.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,002 shares of the industrial products company's stock after acquiring an additional 3,746 shares during the quarter. Headlands Technologies LLC's holdings in Reliance were worth $1,143,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sei Investments Co. lifted its stake in Reliance by 13.1% in the first quarter. Sei Investments Co. now owns 51,053 shares of the industrial products company's stock valued at $17,062,000 after buying an additional 5,902 shares in the last quarter. UBS Group AG grew its holdings in shares of Reliance by 262.0% in the 4th quarter. UBS Group AG now owns 45,016 shares of the industrial products company's stock valued at $12,590,000 after acquiring an additional 32,580 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Reliance by 2,870.9% in the first quarter. Bessemer Group Inc. now owns 3,981 shares of the industrial products company's stock valued at $1,331,000 after acquiring an additional 3,847 shares during the last quarter. MMCAP International Inc. SPC bought a new stake in shares of Reliance during the 4th quarter worth approximately $845,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Reliance by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 159,878 shares of the industrial products company's stock valued at $53,644,000 after buying an additional 2,985 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. KeyCorp cut their price target on Reliance from $341.00 to $325.00 and set an "overweight" rating for the company in a report on Wednesday, July 3rd. Bank of America cut their price target 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. StockNews.com lowered shares of Reliance from a "buy" rating to a "hold" rating in a research note on Wednesday, May 15th. Finally, Wolfe Research cut shares of Reliance from a "peer perform" rating to an "underperform" rating and set a $262.00 price target on the stock. in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned 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 $329.40.

Reliance Stock Up 0.5 %

NYSE:RS traded up $1.25 during mid-day trading on Wednesday, reaching $272.48. The company's stock had a trading volume of 542,785 shares, compared to its average volume of 318,521. The company has a quick ratio of 2.43, a current ratio of 5.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $14.99 billion, a PE ratio of 12.73 and a beta of 0.86. The stock has a fifty day moving average of $287.34 and a 200-day moving average of $300.01. Reliance, Inc. has a 1 year low of $237.14 and a 1 year high of $342.20.

Reliance (NYSE:RS - Get Free Report) last announced its 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). Reliance had a net margin of 7.99% and a return on equity of 14.73%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the business earned $6.49 EPS. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Reliance, Inc. will post 17.21 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 yield of 1.61%. Reliance's dividend payout ratio is currently 20.55%.

Reliance 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.