Price T Rowe Associates Inc. MD Reduces Stock Position in Reliance, Inc. $RS

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Reliance, Inc. by 13.1%, selling 484,269 shares and now holding 3,225,468 shares worth approximately $931 million.
• In the last quarter, several institutional investors increased their holdings in Reliance, with Boston Partners boosting its position by 42.7% and American Century Companies Inc. by 37.9%.
• Reliance's recent earnings report showed an EPS of $4.43, missing estimates, while the company has announced a quarterly dividend of $1.20, representing an annual yield of 1.7%.

Price T Rowe Associates Inc. MD decreased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,225,468 shares of the industrial products company's stock after selling 484,269 shares during the period. Price T Rowe Associates Inc. MD owned 6.13% of Reliance worth $931,355,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mariner LLC increased its position in Reliance by 3.0% in the fourth quarter. Mariner LLC now owns 5,365 shares of the industrial products company's stock worth $1,445,000 after buying an additional 158 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Reliance by 142.6% in the fourth quarter. NewEdge Advisors LLC now owns 1,548 shares of the industrial products company's stock valued at $417,000 after purchasing an additional 910 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Reliance by 49.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 368 shares of the industrial products company's stock valued at $99,000 after buying an additional 121 shares in the last quarter. Pinebridge Investments L.P. boosted its holdings in Reliance by 42.1% in the 4th quarter. Pinebridge Investments L.P. now owns 15,840 shares of the industrial products company's stock worth $4,265,000 after buying an additional 4,694 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in Reliance by 23.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 633,578 shares of the industrial products company's stock valued at $170,598,000 after buying an additional 121,078 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Reliance Price Performance

Shares of Reliance stock traded up $8.22 during trading on Friday, hitting $294.07. 305,705 shares of the stock traded hands, compared to its average volume of 377,234. The firm's fifty day moving average is $307.99 and its 200-day moving average is $296.50. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.40 and a beta of 0.89. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. 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 issued its quarterly earnings results 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). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The firm's revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Research analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid 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 of this dividend is Friday, August 15th. Reliance's payout ratio is 35.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised Reliance to a "hold" rating in a report on Thursday, August 14th. Zacks Research downgraded shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Reliance has a consensus rating of "Hold" and an average target price of $323.50.

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.