Hancock Whitney Corp Reduces Stock Holdings in Reliance, Inc. $RS

Key Points

• Hancock Whitney Corp reduced its holdings in Reliance, Inc. by 28.2%, now owning 13,041 shares worth approximately $3.77 million.
• Reliance reported earnings per share (EPS) of $4.43 for the last quarter, missing expectations, while quarterly revenue was recorded at $3.66 billion.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 1.6%.

Hancock Whitney Corp lowered its position in Reliance, Inc. (NYSE:RS - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,041 shares of the industrial products company's stock after selling 5,124 shares during the quarter. Hancock Whitney Corp's holdings in Reliance were worth $3,766,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC increased its holdings in Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after acquiring an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Reliance during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in Reliance during the 1st quarter valued at about $30,000. Transamerica Financial Advisors LLC grew its holdings in Reliance by 595.5% during the 1st quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock valued at $45,000 after buying an additional 131 shares in the last quarter. Finally, Hemington Wealth Management grew its holdings in Reliance by 18.0% during the 1st quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock valued at $66,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Down 0.5%

Shares of NYSE RS traded down $1.35 during trading on Wednesday, reaching $291.72. The company had a trading volume of 53,389 shares, compared to its average volume of 395,935. The stock has a market cap of $15.34 billion, a PE ratio of 21.30, a P/E/G ratio of 1.42 and a beta of 0.89. 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 business's 50-day moving average is $304.04 and its 200 day moving average is $296.51.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, equities analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $1.20 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Reliance's dividend payout ratio (DPR) is 35.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RS shares. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. assumed coverage on Reliance in a research report on Tuesday. They issued an "overweight" rating and a $350.00 price objective for the company. Finally, Wells Fargo & Company upgraded Reliance to a "hold" rating in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Reliance presently has a consensus rating of "Hold" and an average price target 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.