Deroy & Devereaux Private Investment Counsel Inc. Purchases 4,007 Shares of Reliance, Inc. (NYSE:RS)

Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Reliance, Inc. (NYSE:RS - Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,730 shares of the industrial products company's stock after acquiring an additional 4,007 shares during the period. Reliance accounts for approximately 2.5% of Deroy & Devereaux Private Investment Counsel Inc.'s holdings, making the stock its 3rd biggest position. Deroy & Devereaux Private Investment Counsel Inc. owned approximately 0.27% of Reliance worth $43,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Reliance by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company's stock worth $333,809,000 after acquiring an additional 53,747 shares during the last quarter. Acadian Asset Management LLC grew its stake in Reliance by 20.8% in the first quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company's stock valued at $358,270,000 after purchasing an additional 184,509 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Reliance by 13.3% during the 2nd quarter. Principal Financial Group Inc. now owns 394,793 shares of the industrial products company's stock worth $112,753,000 after purchasing an additional 46,259 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Reliance by 78.5% in the 2nd quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company's stock valued at $82,816,000 after buying an additional 127,422 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Reliance by 21.1% in the second quarter. Victory Capital Management Inc. now owns 202,628 shares of the industrial products company's stock worth $57,871,000 after acquiring an additional 35,336 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Reliance Price Performance

NYSE RS traded up $0.08 on Friday, reaching $286.42. The company's stock had a trading volume of 96,568 shares, compared to its average volume of 317,441. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $284.42 and a 200 day moving average price of $290.12. The firm has a market cap of $15.76 billion, a PE ratio of 15.72 and a beta of 0.85. Reliance, Inc. has a 52 week low of $261.77 and a 52 week high of $342.20.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.02). The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.00 EPS. Sell-side analysts expect that Reliance, Inc. will post 16.96 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance's payout ratio is presently 24.16%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RS. Wolfe Research downgraded Reliance from a "peer perform" rating to an "underperform" rating and set a $262.00 price objective on the stock. in a research note on Friday, July 26th. BMO Capital Markets decreased their price target on shares of Reliance from $340.00 to $330.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, KeyCorp dropped their price objective on shares of Reliance from $335.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Reliance currently has a consensus rating of "Hold" and an average target price of $326.40.

Insider Transactions at Reliance

In other news, Director Mark V. Kaminski sold 5,000 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.

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.