Reliance, Inc. (NYSE:RS) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,168,880 shares of the industrial products company's stock after purchasing an additional 53,747 shares during the period. Dimensional Fund Advisors LP owned 2.04% of Reliance worth $333,809,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Sei Investments Co. lifted its holdings in Reliance by 13.1% in the 1st quarter. Sei Investments Co. now owns 51,053 shares of the industrial products company's stock valued at $17,062,000 after purchasing an additional 5,902 shares in the last quarter. UBS Group AG boosted its position in Reliance by 262.0% during the fourth quarter. UBS Group AG now owns 45,016 shares of the industrial products company's stock worth $12,590,000 after acquiring an additional 32,580 shares during the last quarter. Bessemer Group Inc. boosted its position in Reliance by 2,870.9% during the first quarter. Bessemer Group Inc. now owns 3,981 shares of the industrial products company's stock worth $1,331,000 after acquiring an additional 3,847 shares during the last quarter. MMCAP International Inc. SPC purchased a new stake in Reliance in the 4th quarter worth approximately $845,000. Finally, Russell Investments Group Ltd. raised its holdings in 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 acquiring an additional 2,985 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Trading Up 0.6 %

Reliance stock traded up $1.59 during midday trading on Tuesday, reaching $280.88. The stock had a trading volume of 265,214 shares, compared to its average volume of 317,731. The stock's 50-day simple moving average is $287.10 and its 200 day simple moving average is $298.88. Reliance, Inc. has a twelve month low of $237.14 and a twelve month 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 stock has a market capitalization of $16.13 billion, a PE ratio of 13.06 and a beta of 0.85.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data 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 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% on a year-over-year basis. During the same period in the prior year, the firm earned $6.49 earnings per share. Analysts expect that Reliance, Inc. will post 17.21 EPS for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, August 16th. Reliance's payout ratio is currently 20.55%.

Wall Street Analyst Weigh In

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

About Reliance

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.