Alliancebernstein L.P. Boosts Stake in Reliance, Inc. $RS

Key Points

• Alliancebernstein L.P. increased its holdings in Reliance, Inc. by 3.6%, owning 84,708 shares worth approximately $24.46 million as of the latest SEC filing.
• Reliance reported a quarterly EPS of $4.43, missing expectations, with revenues reaching $3.66 billion, indicating a 0.5% year-over-year increase.
• The company announced a quarterly dividend of $1.20, representing an annualized payout of $4.80 and a dividend yield of 1.6%.

Alliancebernstein L.P. raised its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 84,708 shares of the industrial products company's stock after acquiring an additional 2,906 shares during the period. Alliancebernstein L.P. owned 0.16% of Reliance worth $24,459,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RS. Merewether Investment Management LP acquired a new stake in shares of Reliance during the 4th quarter worth $9,963,000. GAMMA Investing LLC raised its position in shares of Reliance by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock worth $279,000 after buying an additional 143 shares during the period. NDVR Inc. raised its position in shares of Reliance by 5.8% in the 4th quarter. NDVR Inc. now owns 882 shares of the industrial products company's stock worth $237,000 after buying an additional 48 shares during the period. SG Americas Securities LLC raised its position in shares of Reliance by 567.7% in the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock worth $1,625,000 after buying an additional 4,786 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Reliance by 3.5% in the 4th quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock worth $6,319,000 after buying an additional 787 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Down 2.1%

NYSE RS traded down $6.22 during trading hours on Friday, hitting $290.61. The company had a trading volume of 227,307 shares, compared to its average volume of 267,833. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The company has a market capitalization of $15.28 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. The firm's 50 day moving average is $302.06 and its 200 day moving average is $296.43.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) 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 analyst estimates of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Reliance's dividend payout ratio is presently 35.04%.

Analyst Ratings Changes

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

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.