Concentric Capital Strategies LP Invests $1.76 Million in 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 acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,110 shares of the industrial products company's stock, valued at approximately $1,764,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RS. Cordatus Wealth Management LLC grew its position in shares of Reliance by 3.7% in the first quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 35 shares in the last quarter. Hemington Wealth Management grew its position in shares of Reliance by 18.0% in the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 35 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Reliance by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock valued at $3,200,000 after acquiring an additional 38 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Reliance by 11.1% in the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 40 shares during the last quarter. Finally, Forum Financial Management LP lifted its holdings in Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Trading Down 1.3%

NYSE:RS traded down $3.93 during trading hours on Tuesday, reaching $294.10. 81,303 shares of the stock were exchanged, compared to its average volume of 397,058. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $304.59 and a two-hundred day moving average of $296.54. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.42 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released 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 return on equity of 10.48% and a net margin of 5.39%.The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm'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. On average, equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Reliance's dividend payout ratio is currently 35.04%.

Analysts Set New Price Targets

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

Reliance 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.