HighTower Advisors LLC decreased its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,197 shares of the industrial products company's stock after selling 10,399 shares during the quarter. HighTower Advisors LLC owned about 0.07% of Reliance worth $11,318,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Merewether Investment Management LP bought a new position in Reliance during the 4th quarter worth approximately $9,963,000. GAMMA Investing LLC increased its stake in shares of Reliance by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after acquiring an additional 143 shares in the last quarter. NDVR Inc. increased its stake in shares of Reliance by 5.8% in the 4th quarter. NDVR Inc. now owns 882 shares of the industrial products company's stock valued at $237,000 after acquiring an additional 48 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Reliance by 567.7% in the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after acquiring an additional 4,786 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Reliance by 3.5% in the 4th quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock valued at $6,319,000 after acquiring an additional 787 shares in the last quarter. Institutional investors own 79.26% of the company's stock.
Reliance Stock Up 3.1%
RS traded up $8.89 during mid-day trading on Friday, reaching $294.74. 97,697 shares of the stock were exchanged, compared to its average volume of 405,474. 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 capitalization of $15.50 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. The company has a 50 day moving average price of $308.31 and a two-hundred day moving average price of $296.26. 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 posted its quarterly earnings data 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 for 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%.Reliance's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.
Reliance Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $1.20 dividend. 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 payout ratio is 35.04%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on RS shares. Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research note on Thursday, August 14th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $323.50.
Check Out Our Latest Stock Analysis on Reliance
About Reliance
(
Free Report)
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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