Lingohr Asset Management GmbH Trims Stake in Reliance, Inc. $RS

Key Points

• Lingohr Asset Management GmbH significantly reduced its stake in Reliance, Inc. by selling 16,245 shares, resulting in a 92.9% decrease in their holdings during the second quarter.
• Reliance, Inc. reported earnings of $4.43 EPS for the last quarter, missing analysts' expectations by 29 cents, despite revenue aligning with projections at $3.66 billion.
• The stock was recently downgraded from a "strong-buy" to a "hold" rating by Zacks, while analysts have a consensus rating of "Hold" with an average price target of $328.80.

Lingohr Asset Management GmbH lowered its position in Reliance, Inc. (NYSE:RS - Free Report) by 92.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,244 shares of the industrial products company's stock after selling 16,245 shares during the period. Lingohr Asset Management GmbH's holdings in Reliance were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Cetera Investment Advisers increased its stake in Reliance by 9.6% in the 4th quarter. Cetera Investment Advisers now owns 7,041 shares of the industrial products company's stock valued at $1,896,000 after buying an additional 615 shares during the last quarter. Focus Partners Wealth increased its position in shares of Reliance by 12.8% during the fourth quarter. Focus Partners Wealth now owns 1,519 shares of the industrial products company's stock valued at $425,000 after acquiring an additional 172 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Reliance by 138.8% during the fourth quarter. Janus Henderson Group PLC now owns 4,817 shares of the industrial products company's stock valued at $1,298,000 after acquiring an additional 2,800 shares during the last quarter. Millennium Management LLC increased its position in shares of Reliance by 16.5% during the 4th quarter. Millennium Management LLC now owns 120,198 shares of the industrial products company's stock valued at $32,365,000 after purchasing an additional 16,992 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Reliance by 19.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,387 shares of the industrial products company's stock valued at $643,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

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

Reliance Stock Performance

Shares of RS traded up $1.07 during trading hours on Friday, hitting $288.67. The company's stock had a trading volume of 349,351 shares, compared to its average volume of 391,744. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.38 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 business has a 50 day simple moving average of $298.98 and a two-hundred day simple moving average of $296.31. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The firm's quarterly revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, equities analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.7%. Reliance's payout ratio is currently 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.