Robeco Institutional Asset Management B.V. Purchases 2,652 Shares of Reliance, Inc. (NYSE:RS)

Robeco Institutional Asset Management B.V. raised its position in Reliance, Inc. (NYSE:RS) by 59.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,134 shares of the industrial products company’s stock after buying an additional 2,652 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Reliance were worth $2,060,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RS. Truist Financial Corp boosted its position in Reliance by 16.9% during the 4th quarter. Truist Financial Corp now owns 1,399 shares of the industrial products company’s stock worth $377,000 after buying an additional 202 shares during the period. Metis Global Partners LLC increased its stake in Reliance by 8.4% during the 4th quarter. Metis Global Partners LLC now owns 3,804 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 296 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 304 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of Reliance by 14.3% in the 4th quarter. Plato Investment Management Ltd now owns 910 shares of the industrial products company’s stock worth $246,000 after acquiring an additional 114 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Reliance by 13.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 651 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 79 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Price Performance

Shares of NYSE:RS opened at $320.85 on Wednesday. The company has a market capitalization of $16.87 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 3.17. The company’s 50-day moving average is $301.52 and its 200 day moving average is $288.84.

Reliance (NYSE:RS) last announced its quarterly earnings results 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. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Reliance had a return on equity of 10.77% and a net margin of 5.65%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.30 earnings per share. On average, equities research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, May 23rd. Reliance’s payout ratio is 34.41%.

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.