Generali Asset Management SPA SGR Trims Stock Holdings in Reliance, Inc. $RS

Key Points

• Generali Asset Management SPA SGR reduced its holdings in Reliance, Inc. by 63.2% in the second quarter, now owning 2,921 shares valued at $917,000.
• Several hedge funds increased their stakes in Reliance during the first quarter, with 79.26% of the stock currently owned by institutional investors.
• Analysts have varied ratings on Reliance stock, with Zacks Research downgrading it from "strong-buy" to "hold" and the average target price set at $327.80.

Generali Asset Management SPA SGR trimmed its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 63.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,921 shares of the industrial products company's stock after selling 5,010 shares during the quarter. Generali Asset Management SPA SGR's holdings in Reliance were worth $917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RS. Farther Finance Advisors LLC raised its holdings in shares of Reliance by 11.1% in the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after buying an additional 40 shares during the period. GAMMA Investing LLC raised its holdings in shares of Reliance by 17.4% in the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock worth $279,000 after buying an additional 143 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Reliance by 20.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,291 shares of the industrial products company's stock worth $9,902,000 after buying an additional 5,882 shares during the period. Johnson Investment Counsel Inc. increased its holdings in Reliance by 13.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 12,610 shares of the industrial products company's stock worth $3,641,000 after purchasing an additional 1,461 shares during the period. Finally, Praxis Investment Management Inc. increased its holdings in Reliance by 39.3% during the 1st quarter. Praxis Investment Management Inc. now owns 1,560 shares of the industrial products company's stock worth $450,000 after purchasing an additional 440 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RS shares. Zacks Research cut Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Reliance in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on Reliance from $350.00 to $345.00 and set an "overweight" rating on the stock in a research report on Monday, October 13th. Finally, Wells Fargo & Company raised Reliance to a "hold" rating in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $327.80.

Reliance Stock Up 1.1%

Reliance stock opened at $272.10 on Friday. 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 capitalization of $14.31 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.29 and a beta of 0.87. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43. The business has a fifty day moving average price of $286.45 and a 200-day moving average price of $295.60.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 10.48% and a net margin of 5.39%.The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors 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 yield of 1.8%. Reliance's dividend payout ratio (DPR) is 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.

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