Wellington Management Group LLP Decreases Stock Position in Reliance, Inc. $RS

Key Points

• Wellington Management Group LLP decreased its position in Reliance, Inc. by 2.0% during the first quarter, holding approximately 1,449,355 shares valued at $418.5 million.
• Reliance reported an EPS of $4.43 for the quarter, missing analyst estimates by $0.29, while revenue was approximately $3.66 billion.
• The firm has announced a quarterly dividend of $1.20, representing an annualized payout of $4.80 with a dividend yield of 1.7%.

Wellington Management Group LLP cut its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,449,355 shares of the industrial products company's stock after selling 30,187 shares during the quarter. Wellington Management Group LLP owned approximately 2.76% of Reliance worth $418,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cordatus Wealth Management LLC grew its position in shares of Reliance by 3.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company's stock worth $281,000 after buying an additional 35 shares during the period. Hemington Wealth Management grew its stake 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 worth $66,000 after acquiring an additional 35 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Reliance by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock valued at $3,200,000 after acquiring an additional 38 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Reliance by 3.1% during the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after acquiring an additional 40 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Reliance by 11.1% during the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 40 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RS. Zacks Research downgraded Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company upgraded Reliance to a "hold" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Reliance presently has an average rating of "Hold" and an average target price of $323.50.

Reliance Stock Performance

NYSE:RS traded up $8.22 during trading hours on Friday, reaching $294.07. The company had a trading volume of 305,705 shares, compared to its average volume of 400,001. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.36 and a beta of 0.89. The firm's 50 day moving average price is $307.99 and its 200-day moving average price is $296.35.

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). The business had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.The business's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Reliance's 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.