Reliance, Inc. (NYSE:RS) Stock Position Trimmed by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA trimmed its position in shares of Reliance, Inc. (NYSE:RS) by 2.8% in the first quarter, HoldingsChannel reports. The firm owned 35,344 shares of the industrial products company’s stock after selling 1,020 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Reliance were worth $10,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company’s stock valued at $998,886,000 after buying an additional 319,576 shares during the last quarter. Wellington Management Group LLP increased its position in Reliance by 10.4% in the 4th quarter. Wellington Management Group LLP now owns 1,479,542 shares of the industrial products company’s stock valued at $398,381,000 after acquiring an additional 138,866 shares during the period. First Trust Advisors LP raised its stake in Reliance by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company’s stock valued at $372,364,000 after acquiring an additional 185,873 shares in the last quarter. Principal Financial Group Inc. boosted its position in Reliance by 53.5% during the 4th quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock worth $195,402,000 after acquiring an additional 252,955 shares during the period. Finally, Boston Partners grew its stake in shares of Reliance by 7.6% in the fourth quarter. Boston Partners now owns 716,280 shares of the industrial products company’s stock worth $192,894,000 after purchasing an additional 50,528 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp increased their target price on shares of Reliance from $321.00 to $327.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $319.00.

Reliance Stock Down 1.5%

NYSE RS opened at $306.93 on Thursday. The company has a market capitalization of $16.14 billion, a P/E ratio of 19.88 and a beta of 0.88. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $326.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.21 and a quick ratio of 1.58. The company’s 50 day simple moving average is $291.23 and its 200 day simple moving average is $289.14.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.11. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.44 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $5.30 EPS. Equities research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a dividend of $1.20 per share. The ex-dividend date was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.56%. Reliance’s dividend payout ratio is currently 34.41%.

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.