Sowell Financial Services LLC Invests $397,000 in Reliance, Inc. $RS

Key Points

• Sowell Financial Services LLC has invested approximately $397,000 in Reliance, Inc., acquiring 1,265 shares in the second quarter.
• Reliance reported quarterly earnings of $4.43 per share, which fell short of analysts' expectations of $4.72, with revenues of $3.66 billion.
• The company announced a quarterly dividend of $1.20, resulting in an annualized dividend of $4.80 and a dividend yield of 1.7%.

Sowell Financial Services LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,265 shares of the industrial products company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RS. Cordatus Wealth Management LLC raised its position in Reliance by 3.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 35 shares in the last quarter. Hemington Wealth Management grew its stake in Reliance by 18.0% during the 1st quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after buying an additional 35 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Reliance by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock worth $3,200,000 after buying an additional 38 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock worth $116,000 after buying an additional 40 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Reliance by 0.5% in the 1st quarter. Xponance Inc. now owns 9,245 shares of the industrial products company's stock valued at $2,669,000 after purchasing an additional 45 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Performance

Reliance stock opened at $280.90 on Friday. The stock has a fifty day moving average price of $294.69 and a 200 day moving average price of $296.32. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $14.77 billion, a P/E ratio of 20.50, a PEG ratio of 1.36 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.66 billion. During the same period last year, the firm posted $4.65 EPS. Reliance's revenue 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 anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

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

Analyst Ratings Changes

RS has been the topic of several analyst reports. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. initiated coverage on Reliance in a report on Tuesday, September 9th. They set an "overweight" rating and a $350.00 price objective for the company. Finally, Wells Fargo & Company raised Reliance to a "hold" rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average 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.

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