Caxton Associates LLP Makes New Investment in Reliance, Inc. $RS

Key Points

• Caxton Associates LLP has initiated a new investment in Reliance, Inc. by acquiring 4,691 shares valued at approximately $1.35 million in the first quarter.
• Reliance, Inc. reported Q2 earnings of $4.43 per share, missing estimates by $0.29, with revenues slightly up 0.5% year-over-year.
• The company declared a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 1.6%.

Caxton Associates LLP purchased a new position in Reliance, Inc. (NYSE:RS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,691 shares of the industrial products company's stock, valued at approximately $1,355,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RS. BNP Paribas Financial Markets boosted its holdings in Reliance by 3.5% in the fourth quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock worth $6,319,000 after acquiring an additional 787 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Reliance by 3.8% in the fourth quarter. Captrust Financial Advisors now owns 4,106 shares of the industrial products company's stock worth $1,105,000 after acquiring an additional 151 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Reliance by 9.6% in the fourth quarter. Cetera Investment Advisers now owns 7,041 shares of the industrial products company's stock worth $1,896,000 after acquiring an additional 615 shares in the last quarter. Focus Partners Wealth boosted its holdings in Reliance by 12.8% in the fourth quarter. Focus Partners Wealth now owns 1,519 shares of the industrial products company's stock worth $425,000 after acquiring an additional 172 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Reliance by 138.8% in the fourth quarter. Janus Henderson Group PLC now owns 4,817 shares of the industrial products company's stock worth $1,298,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of RS traded down $6.22 on Friday, reaching $290.61. 227,307 shares of the company's stock traded hands, compared to its average volume of 267,833. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The stock has a market cap of $15.28 billion, a PE ratio of 21.21, a PEG ratio of 1.41 and a beta of 0.89. The stock's 50 day simple moving average is $302.06 and its two-hundred day simple moving average is $296.43. 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 issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same period in the previous year, the business posted $4.65 earnings per share. The business's revenue was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently announced 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 (DPR) is currently 35.04%.

Analyst Upgrades and Downgrades

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

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.