Lord Abbett & CO. LLC Cuts Stake in Reliance, Inc. $RS

Key Points

• Lord Abbett & CO. LLC reduced its shareholding in Reliance, Inc. by 82.2%, now owning 57,041 shares after selling 262,568 shares in the first quarter, with the total value of its holdings being approximately $16.5 million.
• Analysts have upgraded Reliance to a "hold" rating and the company has a consensus price target of $323.50, reflecting a mixed sentiment on its stock performance.
• Reliance recently declared a quarterly dividend of $1.20 per share, resulting in an annualized yield of 1.7%, with a payout ratio of 35.04%.

Lord Abbett & CO. LLC decreased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 82.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,041 shares of the industrial products company's stock after selling 262,568 shares during the period. Lord Abbett & CO. LLC owned 0.11% of Reliance worth $16,471,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Boston Partners boosted its holdings in shares of Reliance by 42.7% in the 1st 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Reliance by 71.1% in 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 buying an additional 50,965 shares in the last quarter. Prudential PLC boosted its holdings in shares of Reliance by 191.0% in the 1st quarter. Prudential PLC now owns 7,455 shares of the industrial products company's stock valued at $2,153,000 after buying an additional 4,893 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Reliance by 1.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 16,815 shares of the industrial products company's stock valued at $4,851,000 after buying an additional 209 shares in the last quarter. Finally, Trajan Wealth LLC acquired a new position in shares of Reliance in the 1st quarter valued at $202,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Reliance Stock Performance

NYSE:RS traded up $4.0450 during trading hours on Tuesday, reaching $287.3750. 306,452 shares of the company's stock were exchanged, compared to its average volume of 407,557. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 1.36 and a beta of 0.89. The company has a 50-day moving average of $309.71 and a 200 day moving average of $296.41. 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 1-year low of $250.07 and a 1-year high of $347.43.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 10.48% and a net margin of 5.39%.The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $1.20 per share. The ex-dividend date is Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance's dividend payout ratio 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.