Plato Investment Management Ltd Has $1.54 Million Position in Reliance, Inc. $RS

Key Points

• Plato Investment Management Ltd significantly increased its holdings in Reliance, Inc. by 478.2%, now valuing their stake at approximately $1.54 million after acquiring additional shares.
• Reliance reported its quarterly earnings with an EPS of $4.43, falling short of the consensus estimate of $4.72, while year-over-year revenue increased by 0.5%.
• The company announced a quarterly dividend of $1.20 per share, yielding 1.6%, with a payout ratio of 35.04%.

Plato Investment Management Ltd raised its stake in Reliance, Inc. (NYSE:RS - Free Report) by 478.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,262 shares of the industrial products company's stock after buying an additional 4,352 shares during the quarter. Plato Investment Management Ltd's holdings in Reliance were worth $1,536,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RS. Nuveen LLC acquired a new stake in shares of Reliance during the first quarter worth about $144,089,000. Boston Partners increased its stake in Reliance by 42.7% in the first 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 last quarter. GAMMA Investing LLC grew its position in shares of Reliance by 33,792.2% during the first quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company's stock worth $80,542,000 after acquiring an additional 278,110 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Reliance during the first quarter worth $55,004,000. Finally, American Century Companies Inc. lifted its holdings in shares of Reliance by 37.9% during the first quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock worth $170,039,000 after purchasing an additional 161,892 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Analysts Set New Price Targets

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

Reliance Price Performance

Reliance stock traded up $0.10 on Tuesday, reaching $291.04. The company's stock had a trading volume of 49,039 shares, compared to its average volume of 392,104. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.38 and a beta of 0.89. The business's fifty day moving average price is $301.41 and its 200 day moving average price is $296.41. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43.

Reliance (NYSE:RS - Get Free Report) last posted 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 business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.Reliance's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued 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 currently 35.04%.

Reliance 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.