MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 36,541 Shares of Reliance, Inc. $RS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Reliance, Inc. by 9.2%, selling 36,541 shares and now owning 359,638 shares worth approximately $103.84 million.
• Reliance reported quarterly earnings of $4.43 per share, missing analyst expectations of $4.72, despite revenues meeting forecast at $3.66 billion.
• The company recently declared a quarterly dividend of $1.20 per share, reflecting an annualized dividend yield of 1.6%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 359,638 shares of the industrial products company's stock after selling 36,541 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.68% of Reliance worth $103,845,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC lifted its holdings in shares of Reliance by 138.9% during the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after buying an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the first quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Reliance during the first quarter worth approximately $30,000. Transamerica Financial Advisors LLC lifted its holdings in shares of Reliance by 595.5% during the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock worth $45,000 after buying an additional 131 shares during the last quarter. Finally, Hemington Wealth Management raised its stake in shares of Reliance by 18.0% in the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 35 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RS has been the subject of a number of recent research reports. Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company upgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $323.50.

Reliance Price Performance

NYSE:RS traded up $3.66 during trading hours on Friday, reaching $298.62. The company had a trading volume of 237,979 shares, compared to its average volume of 283,632. The stock has a 50-day moving average of $304.91 and a two-hundred day moving average of $296.56. Reliance, Inc. has a one year low of $250.07 and a one year high of $347.43. The firm has a market capitalization of $15.70 billion, a PE ratio of 21.80, a PEG ratio of 1.42 and a beta of 0.89. 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 results 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 company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the company earned $4.65 earnings per share. The business's revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Reliance's dividend payout ratio is 35.04%.

About Reliance

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.