Reliance, Inc. (NYSE:RS) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its stake in shares of Reliance, Inc. (NYSE:RS) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,973 shares of the industrial products company’s stock after purchasing an additional 258 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Reliance were worth $2,302,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Reliance by 85.5% during the fourth quarter. Empowered Funds LLC now owns 5,404 shares of the industrial products company’s stock worth $1,455,000 after buying an additional 2,491 shares during the period. Savant Capital LLC grew its holdings in Reliance by 86.9% during the 4th quarter. Savant Capital LLC now owns 3,581 shares of the industrial products company’s stock worth $964,000 after acquiring an additional 1,665 shares in the last quarter. Quent Capital LLC grew its holdings in Reliance by 4.1% during the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 37 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Reliance by 3.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 22,237 shares of the industrial products company’s stock valued at $5,998,000 after purchasing an additional 685 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA raised its holdings in shares of Reliance by 108.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 36,364 shares of the industrial products company’s stock valued at $9,791,000 after purchasing an additional 18,880 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Price Performance

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

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 analysts’ consensus estimates of $3.66 by $0.11. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the company earned $5.30 earnings per share. As a group, equities research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Analyst Ratings Changes

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

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.