Northern Trust Corp Lowers Position in Reliance, Inc. $RS

Key Points

• Northern Trust Corp reduced its stake in Reliance, Inc. by selling 17,343 shares, bringing its ownership down to 580,005 shares, valued at approximately $167.5 million.
• Reliance reported earnings per share of $4.43, missing analyst expectations, but its revenue for the quarter stood at $3.66 billion, aligning with estimates.
• The company announced a quarterly dividend of $1.20 per share, with a payout ratio of 35.04% and a dividend yield of 1.7% based on the current share price.

Northern Trust Corp cut its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 580,005 shares of the industrial products company's stock after selling 17,343 shares during the quarter. Northern Trust Corp owned approximately 1.10% of Reliance worth $167,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new position in shares of Reliance in the 1st quarter valued at about $144,089,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Reliance by 9.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock valued at $998,886,000 after purchasing an additional 319,576 shares during the period. Boston Partners lifted its stake 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 purchasing an additional 305,620 shares during the period. GAMMA Investing LLC lifted its stake in shares of Reliance by 33,792.2% in the 1st quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company's stock valued at $80,542,000 after purchasing an additional 278,110 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Reliance by 37.9% in the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock valued at $170,039,000 after purchasing an additional 161,892 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Stock Performance

Shares of NYSE:RS traded up $8.22 during trading on Friday, hitting $294.07. 305,705 shares of the company were exchanged, compared to its average volume of 377,234. The company has a market cap of $15.47 billion, a PE ratio of 21.46, a P/E/G ratio of 1.40 and a beta of 0.89. The stock has a 50 day moving average of $307.99 and a 200 day moving average of $296.50. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51.

Reliance (NYSE:RS - Get Free Report) last posted 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). The company 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 company's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, equities research analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 15th. Reliance's dividend payout ratio (DPR) is 35.04%.

Analyst Ratings Changes

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

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.