Amundi Trims Stake in Reliance, Inc. $RS

Key Points

• Amundi reduced its stake in Reliance, Inc. by 12.3%, selling 18,002 shares, and now holds approximately 0.24% of the company valued at around $35.36 million.
• Reliance reported a quarterly earnings miss with an EPS of $4.43, falling short of expectations of $4.72, while its revenue remained stable at $3.66 billion.
• The firm announced a quarterly dividend of $1.20 per share, offering an annualized yield of 1.6% with a payout ratio of 35.04%.

Amundi trimmed its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,436 shares of the industrial products company's stock after selling 18,002 shares during the quarter. Amundi owned approximately 0.24% of Reliance worth $35,361,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Boston Partners grew its position in Reliance by 42.7% during the first quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock valued at $295,052,000 after buying an additional 305,620 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Reliance by 1.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 641,052 shares of the industrial products company's stock valued at $185,104,000 after buying an additional 7,474 shares during the period. American Century Companies Inc. grew its position in Reliance by 37.9% during the first quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock valued at $170,039,000 after buying an additional 161,892 shares during the period. Nuveen LLC bought a new stake in Reliance during the first quarter valued at approximately $144,089,000. Finally, Nuveen Asset Management LLC grew its position in Reliance by 22.8% during the fourth quarter. Nuveen Asset Management LLC now owns 424,952 shares of the industrial products company's stock valued at $114,423,000 after buying an additional 78,877 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RS has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on shares of Reliance in a research report on Tuesday. They set an "overweight" rating and a $350.00 target price for the company. Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Finally, Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $328.80.

Reliance Price Performance

Reliance stock traded down $4.35 during mid-day trading on Friday, reaching $292.49. 73,042 shares of the company's stock traded hands, compared to its average volume of 393,738. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.39 and a beta of 0.89. The stock has a 50 day moving average of $302.78 and a two-hundred day moving average of $296.47. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $347.43.

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

Reliance Announces Dividend

The company also recently announced 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 of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Reliance's dividend payout ratio is currently 35.04%.

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.