Jacobs Levy Equity Management Inc. Purchases New Position in Reliance, Inc. $RS

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $55 million in Reliance, Inc., acquiring 190,489 shares during the first quarter, resulting in ownership of 0.36% of the company.
• A significant portion of Reliance's stock, **79.26%**, is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Reliance recently announced a quarterly dividend of $1.20 per share, with a dividend yield of 1.6%, reinforcing its commitment to returning value to shareholders.

Jacobs Levy Equity Management Inc. acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 190,489 shares of the industrial products company's stock, valued at approximately $55,004,000. Jacobs Levy Equity Management Inc. owned approximately 0.36% of Reliance as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC raised its stake in shares of Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Reliance in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new position in shares of Reliance in the 1st quarter valued at approximately $30,000. Transamerica Financial Advisors LLC raised its stake in shares of Reliance by 595.5% in the 1st quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 131 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in shares of Reliance by 18.0% in the 1st quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 35 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on RS. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. began coverage on Reliance in a research report on Tuesday. They issued an "overweight" rating and a $350.00 price target on the stock. Finally, Wells Fargo & Company raised Reliance to a "hold" rating in a research report on Thursday, August 14th. Three investment 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 a consensus target price of $328.80.

Reliance Stock Performance

NYSE RS traded down $0.41 during trading on Wednesday, hitting $292.66. The company's stock had a trading volume of 141,190 shares, compared to its average volume of 396,286. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The firm has a market cap of $15.39 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The firm has a 50 day moving average price of $304.04 and a 200 day moving average price of $296.51. 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 data 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). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the business posted $4.65 EPS. Reliance's revenue for the quarter was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Reliance's dividend payout ratio (DPR) is presently 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.