First Citizens Bank & Trust Co. Takes $607,000 Position in Reliance, Inc. $RS

First Citizens Bank & Trust Co. purchased a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,933 shares of the industrial products company's stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC grew its holdings in shares of 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 acquiring an additional 50 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Reliance by 417.6% during the 2nd quarter. Private Trust Co. NA now owns 88 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 71 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Reliance during the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in Reliance in the first quarter worth $30,000. Finally, Transamerica Financial Advisors LLC boosted its holdings in Reliance by 595.5% in the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock worth $45,000 after purchasing an additional 131 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Up 1.3%

NYSE RS opened at $277.33 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 4.43. The firm has a 50-day simple moving average of $285.30 and a 200 day simple moving average of $295.99. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The stock has a market cap of $14.58 billion, a PE ratio of 20.27, a PEG ratio of 1.34 and a beta of 0.87.

Reliance (NYSE:RS - Get Free Report) last released its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.54 billion. Reliance had a net margin of 5.23% and a return on equity of 10.37%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance's dividend payout ratio (DPR) is currently 35.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RS shares. JPMorgan Chase & Co. decreased their price objective on shares of Reliance from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Monday, October 13th. Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $315.00 and set an "outperform" rating for the company in a report on Friday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Reliance in a report on Saturday. Finally, Wells Fargo & Company decreased their price objective on shares of Reliance from $296.00 to $284.00 and set an "equal weight" rating for the company in a report on Friday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $322.40.

About Reliance

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.

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance, Inc. (NYSE:RS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.