Bokf Na Has $2.54 Million Stake in Reliance, Inc. (NYSE:RS)

Bokf Na reduced its position in shares of Reliance, Inc. (NYSE:RS) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,887 shares of the industrial products company’s stock after selling 53 shares during the quarter. Bokf Na’s holdings in Reliance were worth $2,538,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RS. Private Advisor Group LLC raised its holdings in shares of Reliance by 6.6% in the 4th quarter. Private Advisor Group LLC now owns 3,600 shares of the industrial products company’s stock valued at $1,007,000 after purchasing an additional 224 shares during the period. Principal Securities Inc. bought a new stake in Reliance in the fourth quarter valued at approximately $128,000. BNP Paribas Financial Markets lifted its position in shares of Reliance by 42.7% in the fourth quarter. BNP Paribas Financial Markets now owns 27,541 shares of the industrial products company’s stock valued at $7,703,000 after buying an additional 8,240 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Reliance by 32.9% during the 4th quarter. Jump Financial LLC now owns 1,251 shares of the industrial products company’s stock worth $350,000 after acquiring an additional 310 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Reliance by 6.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 907 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Reliance Stock Performance

Shares of NYSE RS opened at $277.95 on Friday. Reliance, Inc. has a one year low of $237.14 and a one year 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. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 12.98 and a beta of 0.85. The stock’s fifty day moving average price is $287.13 and its two-hundred day moving average price is $299.49.

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.08). Reliance had a net margin of 7.99% and a return on equity of 14.73%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the company posted $6.49 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Reliance, Inc. will post 17.21 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 given a $1.10 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.58%. Reliance’s payout ratio is 20.55%.

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.