Versor Investments LP Raises Stock Holdings in Reliance, Inc. $RS

Key Points

• Versor Investments LP increased its stake in Reliance, Inc. by 35.2%, bringing its total holdings to $1.16 million worth of shares.
• Reliance reported a quarterly earnings miss, posting $4.43 EPS against a consensus estimate of $4.72, while revenues slightly increased by 0.5% year-over-year.
• The company announced a quarterly dividend of $1.20 per share, reflecting a yield of 1.7%, with the payout ratio currently at 35.04%.

Versor Investments LP raised its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 35.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,009 shares of the industrial products company's stock after purchasing an additional 1,043 shares during the period. Versor Investments LP's holdings in Reliance were worth $1,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Reliance by 9.4% during 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 buying an additional 319,576 shares during the last quarter. Boston Partners grew its holdings in shares of Reliance by 42.7% during the first 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 last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Reliance by 23.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 633,578 shares of the industrial products company's stock valued at $170,598,000 after buying an additional 121,078 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Reliance by 32.7% during the fourth quarter. Northern Trust Corp now owns 597,348 shares of the industrial products company's stock valued at $160,842,000 after buying an additional 147,076 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Reliance by 37.9% during 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 buying an additional 161,892 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Ratings Changes

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

Reliance Stock Up 2.9%

Shares of RS stock traded up $8.22 on Friday, hitting $294.07. The stock had a trading volume of 305,705 shares, compared to its average volume of 406,899. The business has a 50 day moving average price of $308.31 and a 200 day moving average price of $296.26. Reliance, Inc. has a one year low of $250.07 and a one year 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. The company has a market cap of $15.47 billion, a PE ratio of 21.46, a P/E/G ratio of 1.36 and a beta of 0.89.

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

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 15th. Reliance's dividend payout ratio (DPR) 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.