Reliance, Inc. $RS Shares Acquired by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC increased its stake in Reliance, Inc. by 24.5% during the 2nd quarter, holding 4,643 shares valued at approximately $1.45 million.
• Reliance reported a missed earnings estimate for the quarter, with earnings per share of $4.43 compared to the expected $4.72, while revenue matched expectations at $3.66 billion.
• A quarterly dividend of $1.20 per share was recently paid, reflecting an annualized dividend yield of 1.7% and a payout ratio of 35.04%.

TD Private Client Wealth LLC lifted its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 24.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,643 shares of the industrial products company's stock after buying an additional 915 shares during the period. TD Private Client Wealth LLC's holdings in Reliance were worth $1,457,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Reliance during the 1st quarter valued at about $144,089,000. Boston Partners grew its stake in shares of Reliance by 42.7% during the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock valued at $295,052,000 after buying an additional 305,620 shares during the period. 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 valued at $80,542,000 after acquiring an additional 278,110 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Reliance during the first quarter worth about $55,004,000. Finally, American Century Companies Inc. lifted its stake in shares of Reliance by 37.9% in the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock valued at $170,039,000 after purchasing an additional 161,892 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of NYSE RS opened at $280.90 on Friday. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The business has a 50 day simple moving average of $294.69 and a 200-day simple moving average of $296.32. 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 announced 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 business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the company earned $4.65 EPS. Reliance'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. As a group, equities research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given 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 was Friday, August 15th. Reliance's dividend payout ratio is currently 35.04%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RS. Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company upgraded Reliance to a "hold" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Reliance in a research report on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $328.80.

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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