Reliance, Inc. $RS Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its stake in Reliance, Inc. by 24.5%, now holding approximately $20.49 million worth of shares.
• Recent analyst reports have varied, with Zacks cutting their rating to "hold," while JPMorgan Chase assigned an "overweight" rating with a target price of $350.00.
• Reliance declared a quarterly dividend of $1.20, resulting in a 1.6% yield, with a payout ratio of 35.04%.

AQR Capital Management LLC cut its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 24.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,454 shares of the industrial products company's stock after selling 23,558 shares during the quarter. AQR Capital Management LLC owned about 0.14% of Reliance worth $20,491,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RS. Nuveen LLC purchased a new stake in shares of Reliance during the first quarter valued at $144,089,000. Boston Partners increased its holdings 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 buying an additional 305,620 shares during the period. GAMMA Investing LLC increased its holdings in Reliance by 33,792.2% in the 1st quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company's stock worth $80,542,000 after buying an additional 278,110 shares during the period. American Century Companies Inc. raised its position in Reliance by 37.9% during the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock worth $170,039,000 after buying an additional 161,892 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Reliance by 22.8% during the 4th quarter. Nuveen Asset Management LLC now owns 424,952 shares of the industrial products company's stock valued at $114,423,000 after acquiring an additional 78,877 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a report 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. Finally, JPMorgan Chase & Co. started coverage on Reliance in a research note on Tuesday. They issued an "overweight" rating and a $350.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $328.80.

Reliance Price Performance

Shares of Reliance stock traded down $6.22 during mid-day trading on Friday, reaching $290.61. 227,307 shares of the stock traded hands, compared to its average volume of 267,833. 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 business has a 50-day moving average of $302.06 and a 200 day moving average of $296.44. The stock has a market capitalization of $15.28 billion, a PE ratio of 21.21, a PEG ratio of 1.41 and a beta of 0.89. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43.

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 the consensus estimate of $4.72 by ($0.29). The firm had revenue of $3.66 billion during 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%. During the same period in the prior year, the company posted $4.65 earnings per share. The firm'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, analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm also recently disclosed 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 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Reliance's dividend payout ratio is currently 35.04%.

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.