Prudential PLC Buys 4,893 Shares of Reliance, Inc. $RS

Key Points

• Prudential PLC significantly increased its stake in Reliance, Inc. by 191.0% in Q1, ending with 7,455 shares valued at over $2 million.
• Reliance reported an EPS of $4.43 for the last quarter, which fell short of analyst estimates, although its revenue matched expectations at $3.66 billion.
• The company declared a quarterly dividend of $1.20 per share, with an annual yield of 1.7%, reflecting a payout ratio of 35.04%.

Prudential PLC boosted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 191.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,455 shares of the industrial products company's stock after purchasing an additional 4,893 shares during the period. Prudential PLC's holdings in Reliance were worth $2,153,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RS. Nuveen LLC bought a new position in shares of Reliance during the first quarter valued at approximately $144,089,000. Price T Rowe Associates Inc. MD raised its stake in Reliance by 9.4% during the fourth 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 buying an additional 319,576 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Reliance by 33,792.2% in 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 in the last quarter. First Trust Advisors LP grew its position in Reliance by 15.5% during the 4th quarter. First Trust Advisors LP now owns 1,382,916 shares of the industrial products company's stock valued at $372,364,000 after purchasing an additional 185,873 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Reliance by 32.7% during the fourth quarter. Northern Trust Corp now owns 597,348 shares of the industrial products company's stock valued at $160,842,000 after acquiring an additional 147,076 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Price Performance

Reliance stock traded up $2.6850 during midday trading on Tuesday, reaching $286.0150. 38,229 shares of the stock traded hands, compared to its average volume of 405,818. 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, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The stock's fifty day moving average is $309.71 and its 200-day moving average is $296.41. The stock has a market cap of $15.04 billion, a P/E ratio of 20.88, a PEG ratio of 1.36 and a beta of 0.89.

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

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Reliance's dividend payout ratio (DPR) is currently 35.04%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RS shares. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.