Caisse DE Depot ET Placement DU Quebec Cuts Stock Position in Reliance, Inc. $RS

Caisse DE Depot ET Placement DU Quebec lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 49.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 102,996 shares of the industrial products company’s stock after selling 101,550 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Reliance were worth $29,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RS. TCTC Holdings LLC raised its stake in shares of Reliance by 138.9% during the first quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Reliance during the first quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Reliance during the first quarter worth approximately $30,000. Hemington Wealth Management raised its position in 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 in the last quarter. Finally, Quarry LP raised its position in Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on RS shares. Wells Fargo & Company upgraded Reliance to a “hold” rating in a research report on Thursday, August 14th. Zacks Research cut Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $323.50.

Reliance Stock Up 0.4%

RS opened at $295.44 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. The firm has a market cap of $15.54 billion, a P/E ratio of 21.56, a PEG ratio of 1.40 and a beta of 0.89. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The business’s fifty day simple moving average is $307.48 and its 200 day simple moving average is $296.56.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 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 company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm’s revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, equities research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 15th. Reliance’s payout ratio is currently 35.04%.

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.