Caxton Associates LLP Buys Shares of 4,691 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 stake in Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,691 shares of the industrial products company's stock, valued at approximately $1,355,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merewether Investment Management LP acquired a new position in Reliance during the fourth quarter valued at approximately $9,963,000. GAMMA Investing LLC lifted its position in Reliance by 17.4% during the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after buying an additional 143 shares in the last quarter. NDVR Inc. lifted its position in Reliance by 5.8% during the fourth quarter. NDVR Inc. now owns 882 shares of the industrial products company's stock valued at $237,000 after buying an additional 48 shares in the last quarter. SG Americas Securities LLC lifted its position in Reliance by 567.7% during the first 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Reliance by 3.5% during the fourth quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock worth $6,319,000 after purchasing an additional 787 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Stock Up 0.4%

RS traded up $1.04 during trading on Monday, hitting $291.76. The company had a trading volume of 82,281 shares, compared to its average volume of 392,872. The company has a market cap of $15.34 billion, a PE ratio of 21.30, a P/E/G ratio of 1.38 and a beta of 0.89. The business has a 50-day moving average of $302.06 and a 200-day moving average of $296.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43.

Reliance (NYSE:RS - Get Free Report) last posted 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 company's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. assumed coverage on shares of Reliance in a research report on Tuesday, September 9th. They set an "overweight" rating and a $350.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research 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's stock. According to data from 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.