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 purchased a new position in Reliance, Inc. (NYSE:RS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,457 shares of the industrial products company's stock, valued at approximately $990,000.

Several other hedge funds have also added to or reduced their stakes in the business. Caxton Associates LLP bought a new stake in Reliance in the first quarter worth $1,355,000. Jacobs Levy Equity Management Inc. bought a new stake in Reliance in the first quarter worth $55,004,000. Encompass Capital Advisors LLC bought a new stake in Reliance in the first quarter worth $14,433,000. Concentric Capital Strategies LP bought a new stake in Reliance in the first quarter worth $1,764,000. Finally, Alliancebernstein L.P. lifted its stake in Reliance by 3.6% in the first quarter. Alliancebernstein L.P. now owns 84,708 shares of the industrial products company's stock worth $24,459,000 after purchasing an additional 2,906 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Reliance Trading Down 2.1%

Shares of NYSE RS traded down $6.22 during midday trading on Friday, hitting $290.61. 227,307 shares of the company traded hands, compared to its average volume of 264,620. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $347.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. The stock has a 50-day moving average price of $302.06 and a 200 day moving average price of $296.45. The firm has a market cap of $15.28 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.38 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 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 for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm earned $4.65 EPS. The company'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, analysts expect 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. Investors of record on Friday, August 15th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.7%. Reliance's payout ratio is presently 35.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RS. JPMorgan Chase & Co. began coverage on shares of Reliance in a research report on Tuesday, September 9th. They set an "overweight" rating and a $350.00 price target on the stock. Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Finally, Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Reliance has a consensus rating of "Hold" and an average price target 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.