Reliance, Inc. $RS Stake Boosted by Swedbank AB

Key Points

• Swedbank AB has increased its stake in Reliance, Inc. by 6.5%, accumulating 46,419 shares valued at approximately $14.57 million.
• Reliance's earnings report for the quarter showed an EPS of $4.43, falling short of the consensus estimate of $4.72, with a marginal revenue increase of 0.5% year-over-year.
• While Zacks Research downgraded Reliance to a "hold" rating, JPMorgan Chase initiated coverage with an "overweight" rating and a target price of $350.00.

Swedbank AB increased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,419 shares of the industrial products company's stock after buying an additional 2,827 shares during the quarter. Swedbank AB owned about 0.09% of Reliance worth $14,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Focus Partners Wealth increased its holdings in shares of Reliance by 387.5% during the 1st quarter. Focus Partners Wealth now owns 7,405 shares of the industrial products company's stock worth $2,138,000 after buying an additional 5,886 shares during the last quarter. Plato Investment Management Ltd increased its stake in Reliance by 478.2% during the first quarter. Plato Investment Management Ltd now owns 5,262 shares of the industrial products company's stock worth $1,536,000 after acquiring an additional 4,352 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Reliance by 11.2% in 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 purchasing an additional 46,377 shares during the period. GAMMA Investing LLC raised its holdings in shares of Reliance by 17.4% in the 1st quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock worth $279,000 after purchasing an additional 143 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Reliance by 567.7% in the 1st quarter. SG Americas Securities LLC now owns 5,629 shares of the industrial products company's stock valued at $1,625,000 after purchasing an additional 4,786 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Analyst Ratings Changes

RS has been the subject of several analyst reports. Wells Fargo & Company raised Reliance to a "hold" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. initiated coverage on Reliance in a report on Tuesday, September 9th. They issued an "overweight" rating and a $350.00 price target for the company. Finally, Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $328.80.

Reliance Trading Down 1.4%

Reliance stock traded down $3.98 during midday trading on Tuesday, reaching $281.35. The stock had a trading volume of 113,801 shares, compared to its average volume of 393,786. The firm's fifty day simple moving average is $297.31 and its two-hundred day simple moving average is $296.52. 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 firm has a market cap of $14.80 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.37 and a beta of 0.89.

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

Reliance Dividend Announcement

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