3,463 Reliance, Inc. $RS Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its Reliance stake by 10%, selling 3,463 shares in the third quarter; it retained 31,085 shares valued at about $12.0 million.
• Reliance reported quarterly EPS of $8.02, beating the $6.83 consensus, while revenue rose 42.8% year over year to $5.21 billion.
• Analysts’ consensus rating was Hold, with an average price target of $407.75. Reliance also announced a $1.25 quarterly dividend, or $5.00 annualized.

Ethic Inc. lowered its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 10.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,085 shares of the industrial products company's stock after selling 3,463 shares during the period. Ethic Inc. owned approximately 0.06% of Reliance worth $11,960,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV lifted its holdings in Reliance by 8.3% in the third quarter. Investment Management Corp VA ADV now owns 1,836 shares of the industrial products company's stock worth $706,000 after purchasing an additional 140 shares during the period. Parallel Advisors LLC increased its stake in Reliance by 4.7% during the 3rd quarter. Parallel Advisors LLC now owns 2,057 shares of the industrial products company's stock valued at $791,000 after buying an additional 92 shares during the period. CenterBook Partners LP raised its position in shares of Reliance by 297.1% during the 3rd quarter. CenterBook Partners LP now owns 9,057 shares of the industrial products company's stock worth $3,485,000 after buying an additional 6,776 shares in the last quarter. Heritage Family Offices LLP bought a new stake in shares of Reliance during the 3rd quarter worth about $175,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Reliance in the 3rd quarter worth approximately $299,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Reliance from $391.00 to $420.00 and gave the company an "equal weight" rating in a report on Thursday, October 22nd. Barclays boosted their target price on Reliance from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Monday, October 26th. JPMorgan Chase & Co. upped their target price on Reliance from $400.00 to $420.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 28th. Weiss Ratings lowered Reliance from a "buy (b)" rating to a "hold (c)" rating in a research note on Wednesday, October 28th. Finally, Citigroup increased their price target on Reliance from $420.00 to $460.00 and gave the company a "neutral" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $407.75.

Insider Activity

In related news, COO Stephen Koch sold 8,334 shares of the business's stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $430.87, for a total value of $3,590,870.58. Following the sale, the chief operating officer directly owned 8,209 shares in the company, valued at $3,537,011.83. The trade was a 50.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Reliance Price Performance

NYSE:RS opened at $416.79 on Monday. The company has a quick ratio of 2.22, a current ratio of 4.12 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $404.89 and its 200 day moving average price is $371.05. Reliance, Inc. has a 52-week low of $263.12 and a 52-week high of $454.93. The firm has a market cap of $21.23 billion, a P/E ratio of 19.43, a PEG ratio of 0.83 and a beta of 0.95.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share for the quarter, beating analysts' consensus estimates of $6.83 by $1.19. Reliance had a net margin of 6.38% and a return on equity of 15.31%. The company had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company earned $3.64 EPS. Reliance's revenue was up 42.8% on a year-over-year basis. As a group, sell-side analysts predict that Reliance, Inc. will post 26.54 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance's payout ratio is currently 23.31%.

Reliance News Roundup

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Zacks Research raised its earnings estimates for Reliance across several periods, including FY2026 to $26.86 per share from $22.57 and FY2027 to $24.29 from $21.24, while maintaining a Strong Buy rating. The revisions may support investor confidence in the company’s earnings outlook. Reliance analyst coverage
• Positive Sentiment: Citigroup raised its price target to $460 from $420, implying potential upside from the cited share price, though it kept a Neutral rating. Citigroup recommendations
• Neutral Sentiment: One report puts the consensus target at $400.29, below the cited share price, which tempers the more optimistic target revision. Consensus target price report
• Neutral Sentiment: News about Jio’s new connectivity and data plans, and Reliance Industries’ possible entry into the biscuit market, relates to other Reliance-branded businesses—not Reliance, Inc. (RS)—so it does not directly explain RS’s share movement. Reliance Jio plan article

About Reliance

Reliance, Inc is a metal service center company that distributes metals and provides processing services to customers across a range of industries. Its products include carbon steel, stainless steel, aluminum, alloy steel, brass, copper and other metals.

The company processes materials to customer specifications through services such as cutting, sawing, slitting, machining, forming and laser, plasma or waterjet cutting. These services help customers prepare metal for use in manufacturing, construction, transportation, energy and other applications.

Founded in Los Angeles in 1939, Reliance has grown into a network of service centers serving customers in the United States and internationally.

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