TD Asset Management Inc Has $38.94 Million Position in Reliance, Inc. $RS

Key Points

• TD Asset Management Inc reduced its stake in Reliance, Inc. by 1.9%, owning 124,055 shares valued at approximately $38.94 million, according to its latest SEC filing.
• Reliance, Inc. reported $4.43 earnings per share for the quarter, missing expectations by $0.29, with revenue of $3.66 billion matching analyst predictions.
• The company declared a quarterly dividend of $1.20 per share, translating to an annualized yield of 1.8%, with a payout ratio of 35.04%.

TD Asset Management Inc lowered its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,055 shares of the industrial products company's stock after selling 2,454 shares during the period. TD Asset Management Inc owned about 0.24% of Reliance worth $38,941,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Boston Partners boosted its stake in shares of Reliance by 42.7% during the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock valued at $295,052,000 after buying an additional 305,620 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Reliance by 1.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 641,052 shares of the industrial products company's stock valued at $185,104,000 after buying an additional 7,474 shares during the period. American Century Companies Inc. lifted its stake in shares of Reliance by 37.9% in the 1st 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. Nuveen LLC acquired a new stake in shares of Reliance in the 1st quarter valued at $144,089,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Reliance by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company's stock valued at $133,196,000 after purchasing an additional 46,377 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Down 1.5%

Reliance stock opened at $268.73 on Friday. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.31 and a beta of 0.87. 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, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The firm has a fifty day moving average price of $286.71 and a two-hundred day moving average price of $295.72.

Reliance (NYSE:RS - Get Free Report) last released its earnings results 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). The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.The firm's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Reliance's payout ratio is currently 35.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RS shares. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research note on Thursday, August 14th. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Reliance in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Reliance from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Monday. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $327.80.

Reliance Company 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.

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