AQR Capital Management LLC Trims Position in Reliance, Inc. $RS

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of RS. Nuveen LLC purchased a new stake in shares of Reliance in the first quarter worth $144,089,000. Boston Partners lifted its position in Reliance by 42.7% during the first quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock valued at $295,052,000 after purchasing an additional 305,620 shares during the last quarter. GAMMA Investing LLC lifted its position in Reliance by 33,792.2% during the first quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company's stock valued at $80,542,000 after purchasing an additional 278,110 shares during the last quarter. American Century Companies Inc. lifted its position in Reliance by 37.9% during 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 purchasing an additional 161,892 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Reliance by 22.8% during the fourth quarter. Nuveen Asset Management LLC now owns 424,952 shares of the industrial products company's stock valued at $114,423,000 after purchasing an additional 78,877 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RS has been the subject of a number of recent analyst reports. Zacks Research cut 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 report on Thursday, August 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Reliance in a research report on Tuesday. They issued an "overweight" rating and a $350.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $328.80.

Reliance Trading Up 1.6%

RS stock traded up $4.66 during trading on Thursday, hitting $296.95. The company had a trading volume of 197,459 shares, compared to its average volume of 395,684. The firm has a market capitalization of $15.62 billion, a P/E ratio of 21.68, a PEG ratio of 1.40 and a beta of 0.89. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a 50 day simple moving average of $303.38 and a 200-day simple moving average of $296.49. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly 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). The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.The company's quarterly revenue was up .5% on a year-over-year basis. During the same period 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, research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $1.20 dividend. 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 dividend payout ratio (DPR) is currently 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.