Reliance, Inc. $RS Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Reliance, Inc. by 3.1%, owning about 0.06% of the company valued at $9.6 million.
• Wells Fargo initiated coverage on Reliance with an "equal weight" rating and a price objective of $296.00, while the stock’s consensus rating is currently a "Hold".
• Reliance recently reported $4.43 EPS for the quarter, missing analyst estimates of $4.72 EPS, with revenue slightly up by 0.5% compared to the previous year.

Ethic Inc. boosted its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,219 shares of the industrial products company's stock after purchasing an additional 990 shares during the quarter. Ethic Inc. owned approximately 0.06% of Reliance worth $9,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RS. Raymond James Financial Inc. acquired a new stake in shares of Reliance in the 4th quarter valued at about $20,640,000. Sterling Capital Management LLC lifted its holdings in Reliance by 46.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the industrial products company's stock valued at $861,000 after acquiring an additional 1,020 shares during the period. Townsquare Capital LLC increased its stake in Reliance by 3.1% in the 4th quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 40 shares in the last quarter. Barclays PLC increased its stake in Reliance by 14.5% in the 4th quarter. Barclays PLC now owns 87,143 shares of the industrial products company's stock valued at $23,465,000 after purchasing an additional 11,012 shares in the last quarter. Finally, Mariner LLC increased its stake in Reliance by 3.0% in the 4th quarter. Mariner LLC now owns 5,365 shares of the industrial products company's stock valued at $1,445,000 after purchasing an additional 158 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RS has been the topic of several analyst reports. Zacks Research cut Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company raised Reliance to a "hold" rating in a research report on Thursday, August 14th. Two 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.com, the company presently has a consensus rating of "Hold" and an average price target of $323.50.

Reliance Stock Performance

Shares of NYSE RS traded up $4.0450 during midday trading on Tuesday, hitting $287.3750. 306,452 shares of the company's stock were exchanged, compared to its average volume of 407,557. The firm has a market cap of $15.11 billion, a P/E ratio of 20.98, a PEG ratio of 1.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The stock's 50 day moving average price is $309.71 and its 200-day moving average price is $296.41.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the business posted $4.65 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities research analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.7%. Reliance's dividend payout ratio (DPR) is currently 35.04%.

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.