Kovitz Investment Group Partners LLC Has $1.17 Million Stock Holdings in 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 cut its position in Reliance, Inc. (NYSE:RS - Free Report) by 40.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Boston Partners raised its stake 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 buying an additional 305,620 shares during the period. Russell Investments Group Ltd. lifted its holdings in Reliance by 71.1% during the 1st quarter. Russell Investments Group Ltd. now owns 122,628 shares of the industrial products company's stock valued at $35,394,000 after purchasing an additional 50,965 shares during the last quarter. Prudential PLC boosted its position in Reliance by 191.0% during the first quarter. Prudential PLC now owns 7,455 shares of the industrial products company's stock worth $2,153,000 after purchasing an additional 4,893 shares during the period. Resona Asset Management Co. Ltd. boosted its position in Reliance by 1.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 16,815 shares of the industrial products company's stock worth $4,851,000 after purchasing an additional 209 shares during the period. Finally, Trajan Wealth LLC acquired a new position in shares of Reliance in the first quarter valued at $202,000. 79.26% of the stock is owned by institutional investors.

Reliance Price Performance

Reliance stock traded up $8.22 during mid-day trading on Friday, reaching $294.07. 305,705 shares of the company were exchanged, compared to its average volume of 400,001. The firm has a market cap of $15.47 billion, a PE ratio of 21.46, a PEG ratio of 1.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. The company has a fifty day simple moving average of $307.99 and a 200-day simple moving average of $296.35. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43.

Reliance (NYSE:RS - Get Free Report) last released its 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 analyst estimates of $3.66 billion. During the same period last year, the company posted $4.65 earnings per share. The business'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. As a group, equities research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced 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. This represents a $4.80 annualized dividend and a 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%.

Analyst Ratings Changes

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

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.