Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business's revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.00 earnings per share. Analysts anticipate that Reliance will post 16.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.53%. Reliance's dividend payout ratio (DPR) is currently 24.16%.
In other news, Director Mark V. Kaminski sold 5,000 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of RS. Acadian Asset Management LLC raised its stake 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 valued at $358,270,000 after buying an additional 184,509 shares in the last quarter. Hsbc Holdings PLC raised its stake in Reliance by 78.5% during the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company's stock valued at $82,816,000 after buying an additional 127,422 shares in the last quarter. International Assets Investment Management LLC raised its stake in Reliance by 27,269.0% during the third quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company's stock valued at $32,453,000 after buying an additional 111,803 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company's stock valued at $136,718,000 after purchasing an additional 77,937 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Reliance by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company's stock valued at $333,809,000 after purchasing an additional 53,747 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.
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.
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