IFM Investors Pty Ltd Decreases Stake in Reliance, Inc. $RS

Key Points

• IFM Investors Pty Ltd has reduced its stake in Reliance, Inc. by 8.6%, selling 1,364 shares and holding 14,508 shares worth approximately $4.55 million at the end of the latest quarter.
• Reliance's recent quarterly earnings report showed an EPS of $4.43, missing estimates by $0.29, while revenues increased by 0.5% year-over-year.
• The company's latest quarterly dividend was $1.20 per share, which represents an annualized payout of $4.80 and a yield of 1.7%.

IFM Investors Pty Ltd lessened its stake in Reliance, Inc. (NYSE:RS - Free Report) by 8.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,508 shares of the industrial products company's stock after selling 1,364 shares during the period. IFM Investors Pty Ltd's holdings in Reliance were worth $4,554,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RS. TCTC Holdings LLC boosted its holdings in shares of Reliance by 138.9% in the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after buying an additional 50 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Reliance in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Reliance during the 1st quarter worth about $30,000. Transamerica Financial Advisors LLC lifted its stake 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 buying an additional 131 shares during the period. Finally, Hemington Wealth Management lifted its stake in Reliance by 18.0% during the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after purchasing an additional 35 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RS shares. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. initiated coverage on shares of Reliance in a research report on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 target price for the company. Finally, Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Reliance currently has a consensus rating of "Hold" and a consensus target price of $328.80.

Reliance Stock Down 1.0%

NYSE RS traded down $2.95 on Monday, hitting $284.99. 464,421 shares of the company were exchanged, compared to its average volume of 280,124. The company has a market cap of $14.99 billion, a PE ratio of 20.80, a PEG ratio of 1.37 and a beta of 0.89. The stock has a fifty day moving average of $297.31 and a 200-day moving average of $296.52. 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 12 month low of $250.07 and a 12 month high of $347.43.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share 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 analysts' expectations of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. Reliance's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $1.20 per share. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance's payout ratio is currently 35.04%.

Reliance Company 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.