Concentric Capital Strategies LP Purchases Shares of 6,110 Reliance, Inc. $RS

Key Points

• Concentric Capital Strategies LP has invested $1.76 million in Reliance, Inc., acquiring 6,110 shares during the 1st quarter.
• Reliance, Inc. reported $4.43 EPS for the latest quarter, missing analysts' expectations of $4.72, though revenue increased by 0.5% year over year.
• The company declared a quarterly dividend of $1.20, resulting in an annualized yield of 1.7% with a dividend payout ratio of 35.04%.

Concentric Capital Strategies LP bought a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,110 shares of the industrial products company's stock, valued at approximately $1,764,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Lido Advisors LLC increased its holdings in Reliance by 4.9% during the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock worth $269,000 after acquiring an additional 47 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in Reliance by 31.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,834 shares of the industrial products company's stock worth $763,000 after acquiring an additional 682 shares during the period. BNP Paribas Financial Markets increased its holdings in Reliance by 3.5% during the 4th 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 during the period. Caxton Associates LP bought a new stake in Reliance during the 4th quarter worth approximately $630,000. Finally, Captrust Financial Advisors increased its holdings in Reliance by 3.8% during the 4th 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 during the period. Institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RS shares. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a report on Thursday, August 14th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $323.50.

Reliance Trading Up 1.2%

Reliance stock traded up $3.66 during trading hours on Friday, reaching $298.62. The stock had a trading volume of 237,979 shares, compared to its average volume of 287,546. The company has a fifty day simple moving average of $304.91 and a 200-day simple moving average of $296.60. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. 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 stock has a market cap of $15.70 billion, a PE ratio of 21.80, a PEG ratio of 1.42 and a beta of 0.89.

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

Reliance Announces Dividend

The business also recently declared 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 dividend on an annualized basis 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.