Reliance, Inc. (NYSE:RS) Holdings Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Reliance, Inc. (NYSE:RS) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,003 shares of the industrial products company’s stock after selling 956 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Reliance were worth $3,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Reliance during the 1st quarter worth about $30,000. Coppell Advisory Solutions LLC lifted its holdings in shares of Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 128 shares during the period. Transce3nd LLC bought a new position in shares of Reliance during the 4th quarter worth about $58,000. Quarry LP lifted its holdings in shares of Reliance by 83.7% during the 4th quarter. Quarry LP now owns 259 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 118 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Reliance by 49.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 121 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

NYSE:RS opened at $283.32 on Friday. The company has a 50-day moving average of $313.01 and a 200-day moving average of $296.52. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.38 and a beta of 0.89. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.29). The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%. Reliance’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.65 earnings per share. As a group, equities research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance’s dividend payout ratio is presently 35.04%.

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.