Epoch Investment Partners Inc. Sells 7,784 Shares of Reliance, Inc. (NYSE:RS)

Epoch Investment Partners Inc. trimmed its holdings in shares of Reliance, Inc. (NYSE:RS) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,805 shares of the industrial products company’s stock after selling 7,784 shares during the period. Epoch Investment Partners Inc. owned 0.39% of Reliance worth $61,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Acadian Asset Management LLC boosted its holdings in Reliance by 20.8% during the first quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock worth $358,270,000 after buying an additional 184,509 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Reliance by 78.5% in the 2nd quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock valued at $82,816,000 after acquiring an additional 127,422 shares during the period. First Trust Advisors LP boosted its stake in Reliance by 7.9% during the 4th quarter. First Trust Advisors LP now owns 885,818 shares of the industrial products company’s stock worth $247,746,000 after acquiring an additional 64,895 shares during the last quarter. Principal Financial Group Inc. increased its stake in 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 purchasing an additional 61,687 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in 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 purchasing an additional 60,229 shares during the period. 79.26% of the stock is owned by institutional investors.

Reliance Trading Down 1.8 %

RS opened at $281.08 on Monday. The stock has a market capitalization of $16.14 billion, a P/E ratio of 13.13 and a beta of 0.85. The company has a current ratio of 5.02, a quick ratio of 2.43 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a 12 month low of $237.14 and a 12 month high of $342.20. The firm’s fifty day simple moving average is $286.57 and its 200 day simple moving average is $297.76.

Reliance (NYSE:RS) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). The firm 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 business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.49 earnings per share. As a group, research analysts anticipate that Reliance, Inc. will post 17.21 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Wall Street Analyst Weigh In

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

Reliance 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.