Vest Financial LLC Trims Position in Reliance, Inc. $RS

Key Points

• Vest Financial LLC significantly reduced its holdings in Reliance, Inc. by 89.9%, leaving it with only 3,500 shares valued at approximately $1.1 million as of its latest SEC filing.
• Other institutional investors, including TCTC Holdings LLC and Transamerica Financial Advisors LLC, increased their positions in Reliance, indicating mixed sentiment among hedge funds regarding the stock.
• Despite missing earnings estimates for the last quarter, Reliance announced a quarterly dividend of $1.20 per share, representing a yield of 1.8% with a payout ratio of 35.04%.

Vest Financial LLC cut its position in Reliance, Inc. (NYSE:RS - Free Report) by 89.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,500 shares of the industrial products company's stock after selling 31,030 shares during the period. Vest Financial LLC's holdings in Reliance were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC boosted its position in shares of Reliance by 138.9% during the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after acquiring an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Reliance during the first quarter worth $29,000. Wayfinding Financial LLC bought a new position in shares of Reliance during the first quarter worth $30,000. Transamerica Financial Advisors LLC boosted its position in shares of Reliance by 595.5% during the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock worth $45,000 after acquiring an additional 131 shares during the last quarter. Finally, Hemington Wealth Management boosted its position in shares of Reliance by 18.0% during the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after acquiring an additional 35 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RS has been the subject of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Reliance in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Reliance from $350.00 to $345.00 and set an "overweight" rating for the company in a research report on Monday. 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 upgraded shares of Reliance to a "hold" rating in a research report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $327.80.

Reliance Price Performance

RS stock opened at $272.56 on Thursday. 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. The company has a fifty day simple moving average of $287.04 and a two-hundred day simple moving average of $295.86. The firm has a market capitalization of $14.34 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.87.

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

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid 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 1.8%. Reliance's dividend payout ratio is currently 35.04%.

Reliance 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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