Intech Investment Management LLC Trims Position in 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 decreased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 44.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,177 shares of the industrial products company's stock after selling 28,500 shares during the quarter. Intech Investment Management LLC owned 0.07% of Reliance worth $10,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in RS. Boston Partners increased its holdings in Reliance by 42.7% in the first quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock valued at $295,052,000 after purchasing an additional 305,620 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Reliance by 1.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 641,052 shares of the industrial products company's stock valued at $185,104,000 after purchasing an additional 7,474 shares during the period. American Century Companies Inc. increased its holdings in Reliance by 37.9% during the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock worth $170,039,000 after purchasing an additional 161,892 shares in the last quarter. Nuveen LLC bought a new position in shares of Reliance in the first quarter valued at approximately $144,089,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Reliance by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company's stock valued at $133,196,000 after purchasing an additional 46,377 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RS. Zacks Research cut Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company raised Reliance to a "hold" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. assumed coverage on Reliance in a research report on Tuesday, September 9th. They set an "overweight" rating and a $350.00 price target on the stock. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $328.80.

Reliance Stock Performance

Reliance stock traded up $0.10 during midday trading on Tuesday, reaching $291.04. 49,039 shares of the stock traded hands, compared to its average volume of 392,104. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The firm has a market cap of $15.31 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.38 and a beta of 0.89. The firm has a fifty day moving average price of $301.41 and a two-hundred day moving average price of $296.41. 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 (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.29). The business had revenue of $3.66 billion for 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 business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, equities research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently announced 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 yield of 1.6%. Reliance's dividend payout ratio (DPR) is currently 35.04%.

Reliance 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.