Acadian Asset Management LLC Sells 116,448 Shares of Reliance, Inc. $RS

Acadian Asset Management LLC lessened its holdings in shares of Reliance, Inc. (NYSE:RS) by 69.5% in the first quarter, HoldingsChannel.com reports. The firm owned 51,214 shares of the industrial products company’s stock after selling 116,448 shares during the period. Acadian Asset Management LLC’s holdings in Reliance were worth $14,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC increased its stake in Reliance by 138.9% during the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Reliance during the 1st quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in Reliance during the 1st quarter valued at about $30,000. Transamerica Financial Advisors LLC boosted its stake in Reliance by 595.5% during the 1st 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 boosted its stake in Reliance by 18.0% during the 1st 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 last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

RS opened at $296.95 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.39 and a beta of 0.89. The firm’s fifty day moving average price is $302.78 and its two-hundred day moving average price is $296.47. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43.

Reliance (NYSE:RS) 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 firm had revenue of $3.66 billion for 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%.Reliance’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Reliance’s payout ratio is 35.04%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RS shares. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. started coverage on shares of Reliance in a report on Tuesday. They set an “overweight” rating and a $350.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of Reliance to a “hold” rating in a report on Thursday, August 14th. Three equities 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, the stock has an average rating of “Hold” and an average target price of $328.80.

Reliance Company 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.