NorthCrest Asset Manangement LLC Sells 1,793 Shares of Reliance, Inc. $RS

Key Points

• NorthCrest Asset Management LLC reduced its stake in Reliance, Inc. by 26.1%, owning 5,066 shares valued at $1.656 million after the sell-off.
• Reliance reported a Q2 earnings per share (EPS) of $4.43, missing the consensus estimate of $4.72, while its revenue slightly increased by 0.5% compared to the previous year.
• The company recently declared a quarterly dividend of $1.20 per share, resulting in an annualized dividend of $4.80 and a yield of 1.7%.

NorthCrest Asset Manangement LLC lessened its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 26.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,066 shares of the industrial products company's stock after selling 1,793 shares during the period. NorthCrest Asset Manangement LLC's holdings in Reliance were worth $1,656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RS. Janus Henderson Group PLC increased its position in Reliance by 138.8% during the 4th quarter. Janus Henderson Group PLC now owns 4,817 shares of the industrial products company's stock worth $1,298,000 after purchasing an additional 2,800 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Reliance by 25.6% during the fourth quarter. Quantinno Capital Management LP now owns 5,723 shares of the industrial products company's stock worth $1,541,000 after buying an additional 1,165 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Reliance by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 2,970 shares of the industrial products company's stock worth $800,000 after buying an additional 82 shares in the last quarter. State of Wyoming lifted its stake in shares of Reliance by 210.7% in the 4th quarter. State of Wyoming now owns 637 shares of the industrial products company's stock valued at $172,000 after acquiring an additional 432 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Reliance by 1.8% during the 4th quarter. Tidal Investments LLC now owns 7,530 shares of the industrial products company's stock valued at $2,028,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Trading Down 0.7%

Shares of RS traded down $2.07 during mid-day trading on Monday, reaching $285.87. 265,263 shares of the company were exchanged, compared to its average volume of 394,180. The business has a 50 day simple moving average of $298.18 and a two-hundred day simple moving average of $296.54. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The stock has a market capitalization of $15.03 billion, a PE ratio of 20.85, a PEG ratio of 1.37 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18.

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 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 analyst estimates of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance's dividend payout ratio (DPR) is 35.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RS. JPMorgan Chase & Co. assumed coverage on Reliance in a report on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 target price for the company. Zacks Research cut Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company raised 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 given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $328.80.

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.