XTX Topco Ltd Makes New $691,000 Investment in Reliance, Inc. (NYSE:RS)

XTX Topco Ltd bought a new position in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,420 shares of the industrial products company’s stock, valued at approximately $691,000.

Other institutional investors have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its position in Reliance by 4.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 36 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after buying an additional 41 shares in the last quarter. Consolidated Planning Corp lifted its stake in Reliance by 7.1% in the 2nd quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 50 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in 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 acquiring an additional 54 shares during the period. Finally, Orser Capital Management LLC grew its stake in Reliance by 1.0% during the 1st quarter. Orser Capital Management LLC now owns 6,361 shares of the industrial products company’s stock valued at $2,126,000 after acquiring an additional 62 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Price Performance

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

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). The business had revenue of $3.64 billion for 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 firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.49 EPS. As a group, research analysts expect that Reliance, Inc. will post 17.21 EPS for the current fiscal year.

Reliance Announces Dividend

The business 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 was Friday, August 16th. This represents a $4.40 annualized dividend and a dividend yield of 1.57%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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 research report on Friday, July 26th. Bank of America decreased their target price 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, KeyCorp dropped their price target on shares of Reliance from $341.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.