Reliance, Inc. $RS Shares Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Reliance, Inc. by 46.6%, owning approximately 50,266 shares valued at $16.4 million as of its last SEC filing.
• The stock has a consensus rating of "Hold" among analysts, with a current average price target of $328.80.
• Reliance recently declared a quarterly dividend of $1.20 per share, reflecting an annualized yield of 1.7%.

Wealth Enhancement Advisory Services LLC raised its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 46.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,266 shares of the industrial products company's stock after purchasing an additional 15,975 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.10% of Reliance worth $16,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in Reliance by 42.7% in the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company's stock valued at $295,052,000 after purchasing an additional 305,620 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Reliance by 1.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 641,052 shares of the industrial products company's stock worth $185,104,000 after acquiring an additional 7,474 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Reliance by 37.9% during the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company's stock worth $170,039,000 after acquiring an additional 161,892 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Reliance during the 1st quarter worth approximately $144,089,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Reliance by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company's stock worth $133,196,000 after acquiring an additional 46,377 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Trading Down 1.0%

Shares of RS stock traded down $2.95 on Monday, reaching $284.99. 464,421 shares of the stock were exchanged, compared to its average volume of 280,124. The stock has a market cap of $14.99 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. 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 50 day moving average of $297.31 and a two-hundred day moving average of $296.52. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43.

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

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Reliance's dividend payout ratio is presently 35.04%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company raised Reliance to a "hold" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. started coverage on Reliance in a research note on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 target price on the stock. Finally, Zacks Research lowered Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $328.80.

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.