Vest Financial LLC Has $23.25 Million Position in Reliance, Inc. (NYSE:RS)

Vest Financial LLC grew its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 42.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,409 shares of the industrial products company's stock after purchasing an additional 24,161 shares during the period. Vest Financial LLC owned about 0.14% of Reliance worth $23,250,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Achmea Investment Management B.V. grew its stake in shares of Reliance by 1.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 64,839 shares of the industrial products company's stock valued at $18,518,000 after buying an additional 909 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of Reliance in the 2nd quarter valued at approximately $639,000. Ground Swell Capital LLC bought a new stake in Reliance during the second quarter worth approximately $208,000. Headlands Technologies LLC boosted its position in Reliance by 1,463.3% during the second quarter. Headlands Technologies LLC now owns 4,002 shares of the industrial products company's stock worth $1,143,000 after purchasing an additional 3,746 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in Reliance by 3.1% during the second quarter. Coldstream Capital Management Inc. now owns 7,775 shares of the industrial products company's stock worth $2,220,000 after purchasing an additional 231 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Performance

Shares of RS traded up $1.91 during mid-day trading on Thursday, hitting $274.13. The company's stock had a trading volume of 322,991 shares, compared to its average volume of 318,546. Reliance, Inc. has a one year low of $237.14 and a one year high of $342.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 5.02. The firm has a market capitalization of $15.74 billion, a PE ratio of 12.80 and a beta of 0.85. The stock's 50-day moving average is $287.18 and its two-hundred day moving average is $299.83.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing analysts' consensus estimates of $4.73 by ($0.08). The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Reliance had a net margin of 7.99% and a return on equity of 14.73%. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.49 earnings per share. As a group, sell-side analysts anticipate that Reliance, Inc. will post 17.21 EPS for the current year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors 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 dividend on an annualized basis and a dividend yield of 1.61%. Reliance's payout ratio is 20.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RS shares. KeyCorp decreased their target price on Reliance from $341.00 to $325.00 and set an "overweight" rating for the company in a research report on Wednesday, July 3rd. Wolfe Research cut Reliance from a "peer perform" rating to an "underperform" rating and set a $262.00 target price for the company. in a research report on Friday, July 26th. Bank of America decreased their target price on Reliance from $340.00 to $335.00 and set a "neutral" rating for the company in a research report on Wednesday, June 26th. Finally, StockNews.com cut Reliance from a "buy" rating to a "hold" rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $329.40.

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.