Allianz Asset Management GmbH Decreases Position in Reliance, Inc. $RS

Allianz Asset Management GmbH cut its stake in Reliance, Inc. (NYSE:RS) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,335 shares of the industrial products company’s stock after selling 3,881 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.15% of Reliance worth $24,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boston Partners lifted its stake in Reliance by 42.7% in the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company’s stock worth $295,052,000 after purchasing an additional 305,620 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Reliance by 1.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 641,052 shares of the industrial products company’s stock worth $185,104,000 after purchasing an additional 7,474 shares in the last quarter. American Century Companies Inc. lifted its stake in Reliance by 37.9% in the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company’s stock worth $170,039,000 after purchasing an additional 161,892 shares in the last quarter. Nuveen LLC purchased a new position in Reliance in the 1st quarter worth approximately $144,089,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Reliance by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company’s stock worth $133,196,000 after purchasing an additional 46,377 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Up 1.1%

Shares of NYSE RS opened at $272.10 on Monday. The company has a 50 day simple moving average of $286.45 and a 200-day simple moving average of $295.75. The company has a market capitalization of $14.31 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43.

Reliance (NYSE:RS) last announced its quarterly earnings results 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 return on equity of 10.48% and a net margin of 5.39%.The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the business earned $4.65 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, equities research analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 15th. Reliance’s dividend payout ratio (DPR) is 35.04%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company raised shares of Reliance to a “hold” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. cut their price target on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $327.80.

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.