Kovitz Investment Group Partners LLC Sells 2,803 Shares of Reliance, Inc. $RS

Key Points

• Kovitz Investment Group Partners LLC has reduced its stake in Reliance, Inc. by 40.8%, selling 2,803 shares and now owning 4,063 shares valued at approximately $1.17 million.
• Reliance reported earnings of $4.43 per share in its latest quarter, missing expectations of $4.72, while revenue remained steady at $3.66 billion.
• The company announced a quarterly dividend of $1.20 per share, representing an annualized yield of 1.7% and a payout ratio of 35.04%.

Kovitz Investment Group Partners LLC decreased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 40.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,063 shares of the industrial products company's stock after selling 2,803 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Reliance were worth $1,173,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. TCTC Holdings LLC increased its stake 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 acquiring an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Reliance in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in Reliance in the 1st quarter worth about $30,000. Coppell Advisory Solutions LLC raised its stake in shares of Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after purchasing an additional 128 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Reliance during the 4th quarter worth about $58,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Performance

Shares of NYSE:RS traded down $0.51 during trading on Monday, reaching $294.03. The stock had a trading volume of 270,668 shares, compared to its average volume of 377,234. The stock has a fifty day simple moving average of $307.76 and a two-hundred day simple moving average of $296.57. 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, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.40 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.Reliance's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Reliance's dividend payout ratio (DPR) is currently 35.04%.

Analysts Set New Price Targets

RS has been the topic of several recent research reports. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $323.50.

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.