Reliance, Inc. $RS Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its holdings in Reliance, Inc. by 51.9%, selling 169,257 shares and retaining 156,563 shares worth approximately $45.2 million as of the end of the first quarter.
• Institutional investors own 79.26% of Reliance's stock, with notable changes including Merewether Investment Management's new position worth about $9.96 million and SG Americas Securities increasing its stake by 567.7%.
• Reliance's recent earnings report showed a miss on EPS estimates, with reported earnings of $4.43 compared to an expectation of $4.72, despite a revenue increase of 0.5% year-over-year.

Invesco Ltd. cut its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 51.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,563 shares of the industrial products company's stock after selling 169,257 shares during the period. Invesco Ltd. owned about 0.30% of Reliance worth $45,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Reliance during the 1st quarter valued at $1,910,000. Cynosure Group LLC raised its position in shares of Reliance by 7.5% in the 1st quarter. Cynosure Group LLC now owns 1,210 shares of the industrial products company's stock worth $349,000 after acquiring an additional 84 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Reliance by 36.7% in the 1st quarter. Townsquare Capital LLC now owns 1,835 shares of the industrial products company's stock worth $530,000 after acquiring an additional 493 shares in the last quarter. Citigroup Inc. raised its position in shares of Reliance by 61.0% in the 1st quarter. Citigroup Inc. now owns 86,728 shares of the industrial products company's stock worth $25,043,000 after acquiring an additional 32,858 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Reliance by 0.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 42,087 shares of the industrial products company's stock worth $12,153,000 after acquiring an additional 238 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company raised Reliance to a "hold" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $323.50.

Reliance Stock Up 0.1%

NYSE:RS traded up $0.16 during mid-day trading on Thursday, hitting $286.25. 170,296 shares of the company's stock traded hands, compared to its average volume of 406,614. The company has a fifty day moving average of $308.80 and a 200 day moving average of $296.27. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The company has a market capitalization of $15.05 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.37 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18.

Reliance (NYSE:RS - Get Free Report) last posted 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 firm had revenue of $3.66 billion for 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%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, analysts forecast 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. Shareholders of record on Friday, August 15th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance's payout ratio is presently 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.