Acadian Asset Management LLC Sells 116,448 Shares of Reliance, Inc. $RS

Key Points

• Acadian Asset Management LLC has significantly reduced its stake in Reliance, Inc. by selling 116,448 shares, resulting in a 69.5% decrease in ownership for the first quarter.
• Reliance, Inc. reported earnings per share of $4.43, which fell short of analyst expectations, while the company's revenue for the quarter matched projections at $3.66 billion.
• Institutional investors currently hold 79.26% of Reliance's stock, indicating strong institutional interest in the company despite recent sell-offs.

Acadian Asset Management LLC decreased its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 69.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,214 shares of the industrial products company's stock after selling 116,448 shares during the quarter. Acadian Asset Management LLC owned 0.10% of Reliance worth $14,782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Reliance by 17.4% in the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock worth $279,000 after acquiring an additional 143 shares during the last quarter. SG Americas Securities LLC raised its holdings in Reliance by 567.7% in the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after buying an additional 4,786 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Reliance by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,579 shares of the industrial products company's stock valued at $22,690,000 after buying an additional 4,677 shares during the last quarter. Captrust Financial Advisors raised its holdings in Reliance by 3.8% in the 4th quarter. Captrust Financial Advisors now owns 4,106 shares of the industrial products company's stock valued at $1,105,000 after buying an additional 151 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Reliance by 0.9% in the 1st quarter. M&T Bank Corp now owns 5,146 shares of the industrial products company's stock valued at $1,486,000 after buying an additional 48 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RS. JPMorgan Chase & Co. began coverage on Reliance in a research note on Tuesday. They issued an "overweight" rating and a $350.00 price target for the company. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Reliance currently has a consensus rating of "Hold" and a consensus target price of $328.80.

Reliance Stock Up 1.6%

Reliance stock opened at $296.95 on Friday. The firm has a 50 day moving average price of $302.78 and a two-hundred day moving average price of $296.47. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.39 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.29). The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $1.20 dividend. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Reliance's payout ratio is currently 35.04%.

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.

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