2,237 Shares in Reliance, Inc. (NYSE:RS) Bought by Qsemble Capital Management LP

Qsemble Capital Management LP acquired a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,237 shares of the industrial products company's stock, valued at approximately $639,000.

Other hedge funds have also modified their holdings of the company. Astoria Portfolio Advisors LLC. boosted its position in Reliance by 4.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company's stock worth $253,000 after acquiring an additional 36 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in Reliance by 4.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company's stock worth $286,000 after acquiring an additional 41 shares during the last quarter. National Bank of Canada FI boosted its position in Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company's stock worth $76,000 after acquiring an additional 41 shares during the last quarter. Consolidated Planning Corp boosted its position in Reliance by 7.1% during the second quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company's stock worth $215,000 after acquiring an additional 50 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Reliance by 6.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 907 shares of the industrial products company's stock worth $254,000 after acquiring an additional 54 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. KeyCorp decreased their price target on shares of Reliance from $341.00 to $325.00 and set an "overweight" rating on the stock in a report on Wednesday, July 3rd. Bank of America decreased their price target on shares of Reliance from $340.00 to $335.00 and set a "neutral" rating on the stock in a report on Wednesday, June 26th. Finally, Wolfe Research lowered 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 given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Reliance presently has a consensus rating of "Hold" and an average target price of $329.40.

Reliance Stock Up 1.4 %

Shares of NYSE:RS traded up $3.86 during midday trading on Friday, hitting $277.90. 281,648 shares of the company's stock traded hands, compared to its average volume of 318,337. 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 company has a market cap of $15.29 billion, a PE ratio of 12.98 and a beta of 0.85. The firm's fifty day moving average price is $287.13 and its two-hundred day moving average price is $299.33. Reliance, Inc. has a twelve month low of $237.14 and a twelve month high of $342.20.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Thursday, July 25th. The industrial products company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.08). The business had revenue of $3.64 billion for 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 was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.49 EPS. On average, equities research analysts anticipate that Reliance, Inc. will post 17.21 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.40 annualized dividend and a dividend yield of 1.58%. Reliance's payout ratio is 20.55%.

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.