Evexia Wealth LLC Buys 166 Shares of Reliance, Inc. (NYSE:RS)

Evexia Wealth LLC raised its stake in Reliance, Inc. (NYSE:RS) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,400 shares of the industrial products company’s stock after purchasing an additional 166 shares during the quarter. Reliance accounts for 1.3% of Evexia Wealth LLC’s portfolio, making the stock its 28th biggest position. Evexia Wealth LLC’s holdings in Reliance were worth $3,530,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Reliance during the first quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Reliance in the 2nd quarter worth about $28,000. Contravisory Investment Management Inc. bought a new position in Reliance during the 1st quarter valued at about $30,000. Rise Advisors LLC bought a new position in Reliance during the 1st quarter valued at about $49,000. Finally, UMB Bank n.a. boosted its holdings in shares of Reliance by 27.0% during the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. KeyCorp reduced their price objective on 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 downgraded Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective on the stock. in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Reliance has an average rating of “Hold” and a consensus target price of $329.40.

Reliance Trading Up 1.6 %

RS traded up $4.53 on Friday, hitting $290.95. The company had a trading volume of 274,650 shares, compared to its average volume of 320,739. Reliance, Inc. has a 12-month low of $237.14 and a 12-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 business’s fifty day simple moving average is $281.94 and its 200 day simple moving average is $294.24. The company has a market cap of $16.01 billion, a PE ratio of 14.85 and a beta of 0.85.

Reliance (NYSE:RS) last released its earnings results 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 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 business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.49 EPS. Equities research analysts expect that Reliance, Inc. will post 17.16 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $1.10 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.40 annualized dividend and a dividend yield of 1.51%. Reliance’s payout ratio is 22.46%.

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.