Plato Investment Management Ltd Has $1.54 Million Holdings 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 lifted its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 478.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,262 shares of the industrial products company's stock after purchasing an additional 4,352 shares during the quarter. Plato Investment Management Ltd's holdings in Reliance were worth $1,536,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. TCTC Holdings LLC increased its stake in Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Reliance in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Reliance in the first quarter valued at about $30,000. Transamerica Financial Advisors LLC raised its holdings in 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 acquiring an additional 131 shares in the last quarter. Finally, Hemington Wealth Management boosted its position in Reliance by 18.0% during 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 during the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. began coverage on shares of Reliance in a research note on Tuesday. They issued an "overweight" rating and a $350.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Reliance has an average rating of "Hold" and a consensus target price of $328.80.

Reliance Stock Down 0.1%

RS opened at $292.66 on Thursday. The stock's fifty day simple moving average is $303.38 and its 200 day simple moving average is $296.49. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43. The stock has a market cap of $15.39 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.29). The company had revenue of $3.66 billion during 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%. Reliance's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, August 15th. Reliance's payout ratio is currently 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.

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