Deroy & Devereaux Private Investment Counsel Inc. Cuts Stock Position in Reliance, Inc. $RS

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. reduced its stake in Reliance, Inc. by 0.6%, now holding approximately 149,318 shares, which represent around 2.5% of its portfolio.
• Reliance reported $4.43 EPS for the last quarter, missing estimates of $4.72, while its revenue remained flat at $3.66 billion year-over-year.
• The company has announced a quarterly dividend of $1.20, with a current yield of 1.7% and a dividend payout ratio of 35.04%.

Deroy & Devereaux Private Investment Counsel Inc. lessened its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,318 shares of the industrial products company's stock after selling 927 shares during the quarter. Reliance makes up approximately 2.5% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 2nd largest holding. Deroy & Devereaux Private Investment Counsel Inc. owned 0.28% of Reliance worth $46,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC raised its position in 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 acquiring an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Reliance during the first quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new position in shares of Reliance in the first quarter valued at approximately $30,000. Transamerica Financial Advisors LLC raised its position in shares of Reliance by 595.5% in the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 131 shares during the period. Finally, Hemington Wealth Management boosted its holdings in shares of Reliance by 18.0% during the 1st quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after buying an additional 35 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Trading Up 0.1%

Shares of Reliance stock opened at $275.66 on Wednesday. The company's fifty day simple moving average is $287.30 and its 200-day simple moving average is $296.02. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.31 and a beta of 0.87. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. 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 announced its quarterly earnings data 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 return on equity of 10.48% and a net margin of 5.39%.The company's revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, sell-side analysts expect 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 paid a $1.20 dividend. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance's dividend payout ratio (DPR) is presently 35.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Reliance from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Monday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Reliance in a research note on Wednesday, October 8th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $327.80.

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.

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