2,420 Shares in Reliance, Inc. (NYSE:RS) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new position in shares of Reliance, Inc. (NYSE:RS) in the second quarter, HoldingsChannel.com reports. The firm bought 2,420 shares of the industrial products company’s stock, valued at approximately $691,000.

A number of other hedge funds also recently bought and sold shares of RS. Acadian Asset Management LLC lifted its position in shares of Reliance by 20.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock worth $358,270,000 after purchasing an additional 184,509 shares during the last quarter. Hsbc Holdings PLC increased its position in Reliance by 78.5% in the 2nd quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock worth $82,816,000 after buying an additional 127,422 shares during the period. First Trust Advisors LP lifted its holdings in shares of Reliance by 7.9% during the fourth quarter. First Trust Advisors LP now owns 885,818 shares of the industrial products company’s stock worth $247,746,000 after buying an additional 64,895 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Reliance by 21.5% in the first quarter. Principal Financial Group Inc. now owns 348,534 shares of the industrial products company’s stock valued at $116,473,000 after acquiring an additional 61,687 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of Reliance by 51.2% in the fourth quarter. Schroder Investment Management Group now owns 177,771 shares of the industrial products company’s stock worth $49,719,000 after acquiring an additional 60,229 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Performance

NYSE RS opened at $281.08 on Monday. Reliance, Inc. has a twelve month low of $237.14 and a twelve month high of $342.20. The company has a quick ratio of 2.43, a current ratio of 5.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $16.14 billion, a P/E ratio of 13.13 and a beta of 0.85. The company’s 50-day simple moving average is $286.57 and its 200 day simple moving average is $297.76.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.08). The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Reliance had a net margin of 7.99% and a return on equity of 14.73%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.49 earnings per share. As a group, research analysts forecast that Reliance, Inc. will post 17.21 earnings per share for the current fiscal year.

Reliance Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RS. Bank of America reduced their price target on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. KeyCorp reduced 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. 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.