Hancock Whitney Corp Trims Stock Position 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 reduced its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,041 shares of the industrial products company's stock after selling 5,124 shares during the period. Hancock Whitney Corp's holdings in Reliance were worth $3,766,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC grew its holdings in Reliance by 138.9% in the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 50 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Reliance in the first quarter valued at approximately $29,000. Wayfinding Financial LLC acquired a new stake in Reliance in the first quarter valued at approximately $30,000. Transamerica Financial Advisors LLC grew its holdings in Reliance by 595.5% in the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 131 shares during the period. Finally, Hemington Wealth Management boosted its stake in shares of Reliance by 18.0% in the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after acquiring an additional 35 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised Reliance to a "hold" rating in a research note on Thursday, August 14th. Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Reliance has a consensus rating of "Hold" and an average target price of $323.50.

Reliance Trading Up 1.2%

NYSE:RS traded up $3.66 on Friday, reaching $298.62. The company's stock had a trading volume of 237,979 shares, compared to its average volume of 283,632. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $347.43. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The stock has a 50 day moving average price of $304.91 and a 200 day moving average price of $296.56.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the firm 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. On average, equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

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

Reliance 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.