Reliance, Inc. $RS Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Reliance, Inc. by 14.5%, acquiring 11,100 additional shares, bringing its total ownership to 87,755 shares valued at approximately $25.3 million.
• Reliance reported $4.43 earnings per share for the latest quarter, missing analyst consensus estimates of $4.72.
• The company announced a quarterly dividend of $1.20, resulting in an annualized yield of 1.6% aiming to further attract investors.

Raymond James Financial Inc. lifted its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,755 shares of the industrial products company's stock after buying an additional 11,100 shares during the period. Raymond James Financial Inc. owned approximately 0.17% of Reliance worth $25,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RS. TCTC Holdings LLC lifted its stake in shares of Reliance by 138.9% during the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after buying an additional 50 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Reliance during the first quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in shares of Reliance during the first quarter worth $30,000. Hemington Wealth Management lifted its stake in shares of Reliance by 18.0% during the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after buying an additional 35 shares during the period. Finally, Quarry LP raised its holdings in shares of Reliance by 83.7% during the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock worth $70,000 after purchasing an additional 118 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Down 0.2%

RS opened at $294.03 on Tuesday. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. 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 fifty day moving average of $307.76 and a two-hundred day moving average of $296.57. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.40 and a beta of 0.89.

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

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Reliance's payout ratio is presently 35.04%.

Wall Street Analyst Weigh In

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

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