Reliance, Inc. $RS Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC reduced its stake in Reliance, Inc. by 38.1%, selling 13,779 shares during the 2nd quarter, leaving it with 22,371 shares valued at approximately $7,022,000.
• Analyst ratings reflect mixed sentiment, with Wells Fargo upgrading Reliance to a "hold" rating, while Zacks Research downgraded it from "strong-buy" to "hold," indicating varying perspectives on the company's stock performance.
• Reliance recently declared a dividend of $1.20 per share, with a yield of 1.7%, following its quarterly earnings report which showed a miss on EPS estimates.

Wedge Capital Management L L P NC lessened its position in Reliance, Inc. (NYSE:RS - Free Report) by 38.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,371 shares of the industrial products company's stock after selling 13,779 shares during the period. Wedge Capital Management L L P NC's holdings in Reliance were worth $7,022,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. TCTC Holdings LLC lifted its stake 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 acquiring an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Reliance during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new position in Reliance during the first quarter worth about $30,000. Transamerica Financial Advisors LLC increased its holdings in Reliance by 595.5% in 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 during the period. Finally, Hemington Wealth Management increased its holdings in Reliance by 18.0% in 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 during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Performance

NYSE RS traded down $2.95 during trading hours on Tuesday, hitting $282.38. The company's stock had a trading volume of 124,448 shares, compared to its average volume of 393,852. The company's 50 day simple moving average is $297.31 and its two-hundred day simple moving average is $296.52. The company has a market cap of $14.85 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. 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.

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 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 company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. The firm'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, sell-side analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. Reliance's dividend payout ratio is currently 35.04%.

Analyst Ratings Changes

Several research firms recently commented on RS. Zacks Research downgraded shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. assumed coverage on shares of Reliance in a research note on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 target price for the company. Finally, Wells Fargo & Company raised shares of Reliance to a "hold" rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Reliance presently has an average rating of "Hold" and a consensus 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.