Reliance, Inc. (NYSE:RS) Shares Sold by LSV Asset Management

15 Apr 2025, 04:46 by Renee Jackson · The Cerbat Gem

LSV Asset Management lowered its position in Reliance, Inc. (NYSE:RS – Free Report) by 91.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,900 shares of the industrial products company’s stock after selling 41,870 shares during the quarter. LSV Asset Management’s holdings in Reliance were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Capital Fund Management S.A. acquired a new position in Reliance during the 4th quarter worth approximately $7,929,000. Bessemer Group Inc. increased its stake in Reliance by 1.5% during the 4th quarter. Bessemer Group Inc. now owns 14,898 shares of the industrial products company’s stock worth $4,011,000 after buying an additional 217 shares during the period. Raymond James Financial Inc. purchased a new position in Reliance in the 4th quarter valued at about $20,640,000. APG Asset Management N.V. increased its position in shares of Reliance by 2.1% during the fourth quarter. APG Asset Management N.V. now owns 8,557 shares of the industrial products company’s stock worth $2,225,000 after acquiring an additional 178 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Reliance by 6.5% in the fourth quarter. Bank of Montreal Can now owns 10,122 shares of the industrial products company’s stock valued at $2,725,000 after purchasing an additional 616 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of recent analyst reports. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp increased their price target on shares of Reliance from $321.00 to $327.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Reliance currently has a consensus rating of “Hold” and a consensus price target of $319.00.

Check Out Our Latest Research Report on RS

Insiders Place Their Bets

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the completion of the sale, the chief executive officer now directly owns 90,230 shares of the company’s stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by insiders.

Reliance Stock Performance

Shares of RS opened at $278.16 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $330.46. The firm has a fifty day moving average of $285.68 and a 200-day moving average of $289.98. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 18.02 and a beta of 0.83.

Reliance (NYSE:RS – Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.74 by ($0.52). Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.04 billion. As a group, equities analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, March 7th. This is a positive change from Reliance’s previous quarterly dividend of $1.10. Reliance’s dividend payout ratio is currently 31.09%.

Reliance Company Profile

(Free Report)

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.