QRG Capital Management Inc. Sells 946 Shares of Reliance, Inc. $RS

Key Points

• QRG Capital Management Inc. sold 946 shares of Reliance, Inc., decreasing its stake by 3.7%, now holding 24,485 shares valued at approximately $7.68 million.
• In the first quarter, several hedge funds significantly increased their positions in Reliance, with Plato Investment Management raising their stake by 478.2%.
• Reliance's quarterly earnings fell short of analysts' expectations with an EPS of $4.43, missing the estimate of $4.72, and the company also declared a quarterly dividend of $1.20 per share.

QRG Capital Management Inc. reduced its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,485 shares of the industrial products company's stock after selling 946 shares during the period. QRG Capital Management Inc.'s holdings in Reliance were worth $7,686,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Plato Investment Management Ltd raised its position in Reliance by 478.2% in the first quarter. Plato Investment Management Ltd now owns 5,262 shares of the industrial products company's stock worth $1,536,000 after acquiring an additional 4,352 shares during the period. Focus Partners Wealth increased its holdings in Reliance by 387.5% during the 1st quarter. Focus Partners Wealth now owns 7,405 shares of the industrial products company's stock worth $2,138,000 after acquiring an additional 5,886 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Reliance by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company's stock worth $133,196,000 after acquiring an additional 46,377 shares during the period. GAMMA Investing LLC increased its holdings in Reliance by 17.4% during the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock worth $279,000 after acquiring an additional 143 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Reliance by 567.7% during the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock worth $1,625,000 after acquiring an additional 4,786 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of Reliance stock opened at $283.48 on Monday. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.87. The company has a fifty day moving average of $289.24 and a 200-day moving average of $296.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (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 during the quarter, compared to analysts' expectations of $3.66 billion. During the same period last year, the company posted $4.65 EPS. Reliance's revenue for the quarter was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities research analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors 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 yield of 1.7%. The ex-dividend date was Friday, August 15th. Reliance's dividend payout ratio is currently 35.04%.

Wall Street Analyst Weigh In

A number of research firms have commented on RS. Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. began coverage on shares of Reliance in a research note on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 price target for the company. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Reliance in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Reliance presently has a consensus rating of "Hold" and an average target price of $328.80.

Reliance Company 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.

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