Vident Advisory LLC Buys 5,196 Shares of Reliance, Inc. $RS

Key Points

• Vident Advisory LLC increased its holdings in Reliance, Inc. by 172.2%, owning 8,214 shares valued at approximately $2.37 million after purchasing an additional 5,196 shares in the first quarter.
• Reliance's stock has been upgraded to a "hold" rating by Wells Fargo, while Zacks Research downgraded it from "strong-buy" to "hold," and the average price target is set at $323.50.
• The company announced a quarterly dividend of $1.20 per share, translating to an annualized dividend of $4.80 and a yield of 1.6%, with a current payout ratio of 35.04%.

Vident Advisory LLC boosted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 172.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,214 shares of the industrial products company's stock after buying an additional 5,196 shares during the quarter. Vident Advisory LLC's holdings in Reliance were worth $2,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TCTC Holdings LLC boosted its stake in shares of Reliance by 138.9% during the 1st 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 period. N.E.W. Advisory Services LLC acquired a new stake in Reliance during the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new position in Reliance during the first quarter worth $30,000. Transamerica Financial Advisors LLC increased its holdings in shares of Reliance by 595.5% in the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 131 shares during the last quarter. Finally, Hemington Wealth Management raised its position in shares of Reliance by 18.0% in the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 35 shares during the period. Institutional investors own 79.26% of the company's stock.

Analysts Set New Price Targets

RS has been the subject of several research analyst reports. Zacks Research downgraded shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company raised shares of Reliance to a "hold" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Reliance has a consensus rating of "Hold" and an average target price of $323.50.

Reliance Stock Performance

NYSE:RS traded up $3.66 during mid-day trading on Friday, reaching $298.62. 237,979 shares of the company's stock were exchanged, compared to its average volume of 283,632. Reliance, Inc. has a one year low of $250.07 and a one year 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 business's fifty day simple moving average is $304.91 and its two-hundred day simple moving average is $296.56. The firm has a market capitalization of $15.70 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 1.42 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $4.65 EPS. The business'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. Analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $1.20 dividend. The ex-dividend date was Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. 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.