Dimensional Fund Advisors LP Buys 53,747 Shares of Reliance, Inc. (NYSE:RS)

Dimensional Fund Advisors LP increased its stake in shares of Reliance, Inc. (NYSE:RS) by 4.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,168,880 shares of the industrial products company’s stock after acquiring an additional 53,747 shares during the period. Dimensional Fund Advisors LP owned about 2.04% of Reliance worth $333,809,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Reliance by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 1,224,274 shares of the industrial products company’s stock worth $342,405,000 after purchasing an additional 27,074 shares in the last quarter. Acadian Asset Management LLC raised its position in Reliance by 20.8% during the first quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock worth $358,270,000 after acquiring an additional 184,509 shares in the last quarter. First Trust Advisors LP lifted its stake in Reliance by 7.9% in the fourth quarter. First Trust Advisors LP now owns 885,818 shares of the industrial products company’s stock valued at $247,746,000 after acquiring an additional 64,895 shares during the last quarter. Norges Bank bought a new position in shares of Reliance in the 4th quarter valued at about $186,693,000. Finally, Principal Financial Group Inc. increased its stake in shares of Reliance by 13.3% during the 2nd quarter. Principal Financial Group Inc. now owns 394,793 shares of the industrial products company’s stock worth $112,753,000 after purchasing an additional 46,259 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RS. 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 note on Wednesday, June 26th. KeyCorp cut their price objective on Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, July 3rd. Finally, Wolfe Research lowered 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $329.40.

Reliance Trading Up 0.6 %

Shares of NYSE:RS opened at $279.55 on Tuesday. Reliance, Inc. has a 12-month low of $237.14 and a 12-month high of $342.20. The business has a 50 day moving average of $287.13 and a 200-day moving average of $299.17. 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 stock has a market cap of $16.05 billion, a PE ratio of 13.06 and a beta of 0.85.

Reliance (NYSE:RS) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). Reliance had a net margin of 7.99% and a return on equity of 14.73%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the company earned $6.49 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Reliance, Inc. will post 17.21 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, August 16th. Reliance’s dividend payout ratio (DPR) is 20.55%.

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.