Corebridge Financial Inc. Sells 1,461 Shares of Reliance, Inc. $RS

Key Points

• Corebridge Financial Inc. has reduced its stake in Reliance, Inc. by 2.4%, now holding 59,775 shares worth approximately $17.26 million.
• Reliance recently reported quarterly earnings of $4.43 per share, missing expectations, with revenues of $3.66 billion and a year-over-year revenue increase of 0.5%.
• The company declared a quarterly dividend of $1.20 per share, representing an annual yield of 1.6%, with a payout ratio of 35.04%.

Corebridge Financial Inc. lowered its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,775 shares of the industrial products company's stock after selling 1,461 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Reliance worth $17,260,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RS. TCTC Holdings LLC raised its holdings in shares of Reliance by 138.9% during the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 50 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in shares of Reliance during the first quarter valued at about $30,000. Hemington Wealth Management raised its holdings in shares of Reliance by 18.0% during 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 during the period. Finally, Quarry LP raised its holdings in shares of Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after purchasing an additional 118 shares during the period. Institutional investors own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RS. Wells Fargo & Company upgraded 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 analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $323.50.

Reliance Stock Up 0.4%

NYSE:RS traded up $1.31 on Friday, hitting $295.63. The stock had a trading volume of 359,909 shares, compared to its average volume of 403,952. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. The stock has a market cap of $15.55 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43. The firm's fifty day simple moving average is $306.94 and its two-hundred day simple moving average is $296.58.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $3.66 billion during 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%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

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