Intech Investment Management LLC Sells 28,500 Shares of Reliance, Inc. $RS

Key Points

• Intech Investment Management LLC reduced its stake in Reliance, Inc. by 44.8%, selling 28,500 shares to own 35,177 shares valued at approximately $10.16 million.
• Reliance's recent quarterly earnings report showed an EPS of $4.43, missing analyst expectations of $4.72, although revenue was slightly up from the previous year.
• The company declared a quarterly dividend of $1.20 per share, translating to an annual yield of 1.6% and a payout ratio of 35.04%.

Intech Investment Management LLC reduced its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 44.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,177 shares of the industrial products company's stock after selling 28,500 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Reliance worth $10,157,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC increased its holdings in 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 purchasing an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Reliance in the first quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in Reliance in the first quarter worth approximately $30,000. Transamerica Financial Advisors LLC increased its holdings in Reliance by 595.5% in the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock worth $45,000 after purchasing an additional 131 shares in the last quarter. Finally, Hemington Wealth Management increased its holdings in Reliance by 18.0% in 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 in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RS. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. initiated coverage on Reliance in a report on Tuesday. They set an "overweight" rating and a $350.00 price objective for the company. Finally, Wells Fargo & Company upgraded Reliance to a "hold" rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Reliance has an average rating of "Hold" and an average target price of $328.80.

Reliance Trading Down 0.1%

NYSE RS opened at $292.66 on Thursday. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 1.40 and a beta of 0.89. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The business has a 50 day moving average price of $303.38 and a 200-day moving average price of $296.49. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14.

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 (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the company posted $4.65 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, equities analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.6%. Reliance's dividend payout ratio is 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.

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance, Inc. (NYSE:RS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.