Epoch Investment Partners Inc. Has $61.35 Million Stock Position in Reliance, Inc. (NYSE:RS)

Epoch Investment Partners Inc. cut its stake in shares of Reliance, Inc. (NYSE:RS) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 214,805 shares of the industrial products company’s stock after selling 7,784 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Reliance were worth $61,348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. 1832 Asset Management L.P. boosted its holdings in shares of Reliance by 1.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,644 shares of the industrial products company’s stock valued at $1,898,000 after buying an additional 127 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Reliance by 6.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 97,997 shares of the industrial products company’s stock valued at $27,988,000 after acquiring an additional 5,570 shares during the last quarter. King Luther Capital Management Corp lifted its stake in Reliance by 1.2% in the second quarter. King Luther Capital Management Corp now owns 127,818 shares of the industrial products company’s stock valued at $36,505,000 after acquiring an additional 1,471 shares during the last quarter. Bridges Investment Management Inc. bought a new position in shares of Reliance in the 2nd quarter valued at about $378,000. Finally, Intech Investment Management LLC increased its stake in shares of Reliance by 10.8% during the 2nd quarter. Intech Investment Management LLC now owns 14,349 shares of the industrial products company’s stock worth $4,098,000 after purchasing an additional 1,396 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Performance

Shares of NYSE:RS opened at $281.08 on Monday. Reliance, Inc. has a 12-month low of $237.14 and a 12-month high of $342.20. The company’s 50 day moving average price is $286.57 and its two-hundred day moving average price is $297.76. The firm has a market cap of $16.14 billion, a PE ratio of 13.13 and a beta of 0.85. 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 issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Reliance had a return on equity of 14.73% and a net margin of 7.99%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.49 EPS. Equities research analysts predict that Reliance, Inc. will post 17.21 earnings per share for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $1.10 per share. The ex-dividend date was Friday, August 16th. This represents a $4.40 annualized dividend and a yield of 1.57%. Reliance’s dividend payout ratio is 20.55%.

Analysts Set New Price Targets

RS has been the subject of several recent analyst reports. KeyCorp cut their target price on shares of Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, July 3rd. Bank of America decreased their target price on Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, Wolfe Research cut 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $329.40.

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.