Epoch Investment Partners Inc. lessened its position in Reliance, Inc. (NYSE:RS – Free Report) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 164,509 shares of the industrial products company’s stock after selling 7,894 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Reliance were worth $49,998,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of RS. Norges Bank bought a new position in Reliance in the 4th quarter worth about $207,691,000. Boston Partners raised its holdings in shares of Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after buying an additional 484,286 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after buying an additional 343,598 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Reliance by 1,019.0% during the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after buying an additional 311,323 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Reliance by 4,419.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock worth $79,210,000 after buying an additional 268,139 shares during the period. 79.26% of the stock is currently owned by institutional investors.
Reliance News Roundup
Here are the key news stories impacting Reliance this week:
- Positive Sentiment: Reliance reported Q2 earnings per share of $6.27, ahead of estimates and above management’s prior guidance, while revenue rose 26.5% year over year to $4.63 billion. Article Title
- Positive Sentiment: The company said record quarterly tons sold, stronger customer activity, and firm pricing supported results, with the U.S. border wall project contributing more than expected to earnings. Article Title
- Positive Sentiment: Management issued upbeat Q3 guidance of $6.40 to $6.60 per share, signaling continued momentum after the strong quarter. Article Title
- Neutral Sentiment: Wells Fargo raised its price target on Reliance to $398 from $372 but kept an “equal weight” rating, suggesting improved expectations without a major change in stance. Article Title
- Neutral Sentiment: The company also announced a quarterly dividend of $1.25 per share, reinforcing shareholder returns but not changing the core operating story. Article Title
Analysts Set New Price Targets
Insider Activity
In other news, CFO Arthur Ajemyan sold 3,500 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $358.12, for a total value of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares of the company’s stock, valued at approximately $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.40% of the company’s stock.
Reliance Trading Up 3.2%
Reliance stock opened at $408.04 on Friday. The firm has a 50 day simple moving average of $386.93 and a 200-day simple moving average of $347.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.24. The stock has a market capitalization of $20.83 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $419.83.
Reliance (NYSE:RS – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business earned $4.43 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts expect that Reliance, Inc. will post 19.84 EPS for the current fiscal year.
Reliance Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is 29.07%.
About Reliance
Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.
Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.
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