Truist Financial Corp Boosts Holdings in Reliance, Inc. $RS

Key Points

• Truist Financial Corp increased its stake in Reliance, Inc. by 64.4% during the 2nd quarter, now holding 3,861 shares valued at approximately $1.21 million.
• Reliance's recent earnings report showed a missed EPS estimate of $4.43 compared to a consensus of $4.72, with revenue of $3.66 billion for the quarter.
• The company recently announced a quarterly dividend of $1.20 per share, indicating a dividend yield of 1.8% with a payout ratio of 35.04%.

Truist Financial Corp lifted its stake in Reliance, Inc. (NYSE:RS - Free Report) by 64.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,861 shares of the industrial products company's stock after purchasing an additional 1,512 shares during the quarter. Truist Financial Corp's holdings in Reliance were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of RS. TCTC Holdings LLC increased its holdings in Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after buying an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Reliance in the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in Reliance in the 1st quarter worth about $30,000. Transamerica Financial Advisors LLC increased its holdings in Reliance by 595.5% in the 1st quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock worth $45,000 after buying an additional 131 shares in the last quarter. Finally, Hemington Wealth Management increased its holdings in Reliance by 18.0% in 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 in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RS. JPMorgan Chase & Co. began coverage on Reliance in a report on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 price objective for the company. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Reliance in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Reliance to a "hold" rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $328.80.

Reliance Trading Down 2.6%

Reliance stock opened at $272.00 on Monday. The business has a 50-day simple moving average of $287.74 and a two-hundred day simple moving average of $296.24. The company has a market cap of $14.31 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.30 and a beta of 0.87. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. 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 released 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). The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The business 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. The ex-dividend date was Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Reliance's payout ratio is 35.04%.

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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