Fulton Bank N.A. Has $454,000 Holdings in Reliance, Inc. (NYSE:RS)

Fulton Bank N.A. grew its position in Reliance, Inc. (NYSE:RS) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,570 shares of the industrial products company’s stock after purchasing an additional 47 shares during the quarter. Fulton Bank N.A.’s holdings in Reliance were worth $454,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RS. Riverview Trust Co acquired a new position in Reliance in the 1st quarter valued at $25,000. Innealta Capital LLC acquired a new position in shares of Reliance in the second quarter valued at about $28,000. Contravisory Investment Management Inc. acquired a new position in shares of Reliance in the first quarter valued at about $30,000. Rise Advisors LLC bought a new position in Reliance during the first quarter worth about $49,000. Finally, National Bank of Canada FI raised its stake in Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RS. Wolfe Research cut shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a report on Friday, July 26th. Bank of America lowered their price objective on Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Finally, KeyCorp reduced their target price on Reliance from $341.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, July 3rd. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $329.40.

Reliance Stock Down 0.4 %

NYSE RS opened at $283.49 on Wednesday. The business has a fifty day moving average price of $282.39 and a two-hundred day moving average price of $294.63. The stock has a market capitalization of $16.28 billion, a PE ratio of 13.24 and a beta of 0.85. Reliance, Inc. has a fifty-two week low of $237.14 and a fifty-two week high of $342.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43.

Reliance (NYSE:RS) last announced 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 business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Reliance had a return on equity of 14.73% and a net margin of 7.99%. Reliance’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.49 earnings per share. Equities analysts expect that Reliance, Inc. will post 17.16 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, August 16th. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

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.