United Services Automobile Association Invests $990,000 in Reliance, Inc. $RS

Key Points

• United Services Automobile Association has acquired a new stake in Reliance, Inc. by purchasing 3,457 shares valued at approximately $990,000 during the first quarter.
• Reliance, Inc. recently declared a quarterly dividend of $1.20 per share, translating to an annualized yield of 1.6% with a payout ratio of 35.04%.
• As of now, Reliance has a consensus rating of "Hold" from analysts, with an average target price set at $323.50.

United Services Automobile Association acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,457 shares of the industrial products company's stock, valued at approximately $990,000.

A number of other institutional investors have also modified their holdings of RS. BNP Paribas Financial Markets raised its position in shares of Reliance by 3.5% in the fourth quarter. BNP Paribas Financial Markets now owns 23,469 shares of the industrial products company's stock valued at $6,319,000 after buying an additional 787 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Reliance by 3.8% in the fourth quarter. Captrust Financial Advisors now owns 4,106 shares of the industrial products company's stock valued at $1,105,000 after buying an additional 151 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Reliance by 9.6% in the fourth quarter. Cetera Investment Advisers now owns 7,041 shares of the industrial products company's stock valued at $1,896,000 after buying an additional 615 shares during the last quarter. Focus Partners Wealth raised its position in shares of Reliance by 12.8% in the fourth quarter. Focus Partners Wealth now owns 1,519 shares of the industrial products company's stock valued at $425,000 after buying an additional 172 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Reliance by 138.8% in the fourth quarter. Janus Henderson Group PLC now owns 4,817 shares of the industrial products company's stock valued at $1,298,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RS shares. JPMorgan Chase & Co. started coverage on shares of Reliance in a research report on Tuesday. They issued an "overweight" rating and a $350.00 price objective for the company. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company raised shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $328.80.

Reliance Trading Up 1.6%

RS stock traded up $4.66 on Thursday, hitting $296.95. 197,459 shares of the company were exchanged, compared to its average volume of 271,142. 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 twelve month low of $250.07 and a twelve month high of $347.43. The business's fifty day moving average is $302.78 and its two-hundred day moving average is $296.47. The stock has a market capitalization of $15.62 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company earned $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. As a group, research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently disclosed 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 1.6%. Reliance's dividend payout ratio is presently 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.