Hsbc Holdings PLC Sells 10,984 Shares of Reliance, Inc. $RS

Key Points

• Hsbc Holdings PLC reduced its holdings in Reliance, Inc. by 3.6%, selling 10,984 shares to hold a total of 296,394 shares, valued at approximately $85.55 million.
• Reliance reported earnings per share (EPS) of $4.43 for the last quarter, which was below the consensus estimate of $4.72, though revenue met expectations at $3.66 billion.
• The company recently declared a quarterly dividend of $1.20 per share, offering an annualized yield of 1.7%, with a dividend payout ratio of 35.04%.

Hsbc Holdings PLC decreased its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,394 shares of the industrial products company's stock after selling 10,984 shares during the quarter. Hsbc Holdings PLC owned about 0.56% of Reliance worth $85,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RS. Nuveen LLC bought a new position in Reliance during the 1st quarter worth approximately $144,089,000. Price T Rowe Associates Inc. MD lifted its stake in Reliance by 9.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock valued at $998,886,000 after buying an additional 319,576 shares in the last quarter. Boston Partners lifted its stake in Reliance by 42.7% in the first 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 in the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 278,110 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Reliance by 37.9% in the first quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock valued at $170,039,000 after buying an additional 161,892 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Reliance Stock Up 2.9%

Shares of NYSE RS traded up $8.22 during midday trading on Friday, reaching $294.07. The company's stock had a trading volume of 305,705 shares, compared to its average volume of 400,001. 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, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.40 and a beta of 0.89. The stock has a 50 day simple moving average of $307.99 and a 200-day simple moving average of $296.42.

Reliance (NYSE:RS - Get Free Report) last posted 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 analyst estimates of $3.66 billion. During the same quarter last year, the business earned $4.65 earnings per share. 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 predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given 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 is Friday, August 15th. Reliance's dividend payout ratio is 35.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research lowered 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. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $323.50.

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.