Consolidated Planning Corp Has $215,000 Stake in Reliance, Inc. (NYSE:RS)

Consolidated Planning Corp increased its stake in Reliance, Inc. (NYSE:RS) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 752 shares of the industrial products company’s stock after purchasing an additional 50 shares during the quarter. Consolidated Planning Corp’s holdings in Reliance were worth $215,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. grew its position in shares of Reliance by 4.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 36 shares during the last quarter. Avantax Advisory Services Inc. increased its position in Reliance by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company’s stock worth $286,000 after buying an additional 41 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of 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 buying an additional 54 shares during the last quarter. Orser Capital Management LLC boosted its position in shares of Reliance by 1.0% in the first quarter. Orser Capital Management LLC now owns 6,361 shares of the industrial products company’s stock valued at $2,126,000 after acquiring an additional 62 shares during the period. Finally, Evexia Wealth LLC grew its stake in shares of Reliance by 0.5% in the second quarter. Evexia Wealth LLC now owns 12,234 shares of the industrial products company’s stock worth $3,703,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RS shares. Wolfe Research downgraded shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target for the company. in a report on Friday, July 26th. Bank of America reduced their target price 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. StockNews.com lowered Reliance from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, KeyCorp reduced their price objective on Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have given 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 Stock Up 0.3 %

Shares of RS opened at $273.49 on Thursday. Reliance, Inc. has a 12 month low of $237.14 and a 12 month high of $342.20. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of 12.77 and a beta of 0.86. The company has a 50-day moving average price of $288.36 and a two-hundred day moving average price of $301.70. The company has a quick ratio of 2.43, a current ratio of 5.02 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS) last posted its earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.08). Reliance had a return on equity of 14.73% and a net margin of 7.99%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business earned $6.49 EPS. Reliance’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts predict that Reliance, Inc. will post 17.21 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 16th. Reliance’s dividend payout ratio (DPR) is presently 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.