Reliance, Inc. $RS Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in Reliance, Inc. by 38.1%, selling 16,400 shares in the first quarter, and now holds approximately 0.05% of the company's shares worth about $7.69 million.
• Multiple institutional investors have increased their positions in Reliance, with Boston Partners growing its stake by 42.7% in the first quarter, now owning over $295 million worth of shares.
• Reliance recently announced a quarterly dividend of $1.20 per share, resulting in an annualized yield of 1.6%, with a payout ratio of 35.04%.

Korea Investment CORP decreased its position in Reliance, Inc. (NYSE:RS - Free Report) by 38.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,623 shares of the industrial products company's stock after selling 16,400 shares during the period. Korea Investment CORP owned approximately 0.05% of Reliance worth $7,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners grew its position in Reliance by 42.7% in the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock worth $295,052,000 after purchasing an additional 305,620 shares during the last quarter. Northern Trust Corp grew its position in Reliance by 32.7% in the 4th quarter. Northern Trust Corp now owns 597,348 shares of the industrial products company's stock worth $160,842,000 after purchasing an additional 147,076 shares during the last quarter. American Century Companies Inc. grew its position in Reliance by 37.9% in the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock worth $170,039,000 after purchasing an additional 161,892 shares during the last quarter. Nuveen LLC bought a new position in Reliance in the 1st quarter worth about $144,089,000. Finally, Nuveen Asset Management LLC grew its position in Reliance by 22.8% in the 4th quarter. Nuveen Asset Management LLC now owns 424,952 shares of the industrial products company's stock worth $114,423,000 after purchasing an additional 78,877 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

RS has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Reliance currently has an average rating of "Hold" and an average target price of $323.50.

Reliance Price Performance

NYSE RS opened at $294.07 on Friday. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. The firm has a market capitalization of $15.47 billion, a PE ratio of 21.46, a P/E/G ratio of 1.36 and a beta of 0.89. The company's 50 day simple moving average is $307.99 and its 200 day simple moving average is $296.35.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. Reliance's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, equities research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 15th. Reliance's dividend payout ratio (DPR) is presently 35.04%.

Reliance Company 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.

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance, Inc. (NYSE:RS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.