Vanguard Personalized Indexing Management LLC Buys 1,418 Shares of Reliance, Inc. (NYSE:RS)

Vanguard Personalized Indexing Management LLC increased its stake in shares of Reliance, Inc. (NYSE:RS) by 10.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,512 shares of the industrial products company’s stock after buying an additional 1,418 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Reliance were worth $4,275,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. raised its position in shares of Reliance by 4.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company’s stock valued at $253,000 after buying an additional 36 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Reliance by 4.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 41 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 41 shares in the last quarter. Consolidated Planning Corp increased its stake in shares of Reliance by 7.1% in the 2nd quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 50 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Reliance by 6.3% during the 4th 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 in the last quarter. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

RS has been the topic of a number of recent analyst reports. KeyCorp decreased their target price on Reliance from $341.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 3rd. Bank of America dropped their price objective 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. 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 research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Reliance has a consensus rating of “Hold” and an average target price of $329.40.

Reliance Trading Up 3.2 %

Shares of NYSE RS opened at $286.01 on Friday. The stock has a market cap of $15.74 billion, a P/E ratio of 13.36 and a beta of 0.85. The firm has a 50 day moving average price of $287.02 and a two-hundred day moving average price of $298.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 5.02. Reliance, Inc. has a 52-week low of $237.14 and a 52-week high of $342.20.

Reliance (NYSE:RS) last announced 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 analyst estimates of $3.64 billion. During the same period in the previous year, the firm posted $6.49 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Reliance, Inc. will post 17.21 EPS for the current year.

Reliance Dividend Announcement

The firm also recently declared 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. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, August 16th. Reliance’s payout ratio is 20.55%.

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.