Sequoia Financial Advisors LLC Sells 72 Shares of Reliance, Inc. (NYSE:RS)

Sequoia Financial Advisors LLC decreased its holdings in Reliance, Inc. (NYSE:RS) by 2.8% during the 1st quarter, HoldingsChannel reports. The firm owned 2,531 shares of the industrial products company’s stock after selling 72 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Reliance were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Johnson Investment Counsel Inc. increased its stake in shares of Reliance by 0.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company’s stock valued at $3,002,000 after purchasing an additional 39 shares during the last quarter. Townsquare Capital LLC boosted its holdings in shares of Reliance by 3.1% during the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 40 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 40 shares in the last quarter. Forum Financial Management LP boosted its holdings in shares of Reliance by 2.8% during the 4th quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company’s stock valued at $436,000 after acquiring an additional 44 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of Reliance by 4.9% during the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Trading Up 2.2%

NYSE RS opened at $320.85 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $326.87. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The business’s fifty day moving average is $301.52 and its 200 day moving average is $288.84.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.11. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the business posted $5.30 EPS. Reliance’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, May 23rd. Reliance’s dividend payout ratio (DPR) is 34.41%.

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.