T. Rowe Price Investment Management Inc. Has $185.10 Million Stock Position in Reliance, Inc. $RS

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Reliance, Inc. by 1.2%, now owning approximately 641,052 shares valued at $185 million as of the end of the first quarter.
• Reliance reported a Q2 EPS of $4.43, missing analysts' expectations of $4.72, despite revenue matching analyst estimates at $3.66 billion.
• The company has announced a quarterly dividend of $1.20 per share, set to be paid on August 29th, reflecting an annualized yield of 1.7%.

T. Rowe Price Investment Management Inc. raised its position in Reliance, Inc. (NYSE:RS - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 641,052 shares of the industrial products company's stock after purchasing an additional 7,474 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.22% of Reliance worth $185,104,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Reliance by 9.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company's stock valued at $998,886,000 after purchasing an additional 319,576 shares during the last quarter. Boston Partners raised its position in Reliance by 42.7% in 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. Northern Trust Corp raised its position in Reliance by 32.7% in the fourth quarter. Northern Trust Corp now owns 597,348 shares of the industrial products company's stock valued at $160,842,000 after purchasing an additional 147,076 shares during the last quarter. American Century Companies Inc. raised its position in Reliance by 37.9% in 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 LLC bought a new position in Reliance in the first quarter valued at about $144,089,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on RS. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company upgraded Reliance to a "hold" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Reliance currently has a consensus rating of "Hold" and an average target price of $323.50.

Reliance Trading Up 2.9%

Shares of RS stock traded up $8.22 on Friday, hitting $294.07. The company had a trading volume of 305,705 shares, compared to its average volume of 400,001. The firm has a market cap of $15.47 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.40 and a beta of 0.89. The stock's 50-day moving average is $307.99 and its two-hundred day moving average is $296.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share 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 analyst estimates of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, equities research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

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 paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.6%. Reliance's dividend payout ratio (DPR) 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.