Reliance, Inc. $RS Shares Sold by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group reduced its Reliance stake by 9.4% in the third quarter, selling 4,056 shares and retaining 38,997 shares worth approximately $15 million. Institutional investors collectively own 79.26% of the company.
• Analysts have a mixed outlook on Reliance, with an overall “Hold” rating and an average price target of $387.43. Recent targets range from $391 to $421.
• Reliance reported quarterly EPS of $6.27, beating estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. The stock opened at $417.31, up 1.5%, near its 52-week high of $433.02.

CWA Asset Management Group LLC decreased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,997 shares of the industrial products company's stock after selling 4,056 shares during the quarter. CWA Asset Management Group LLC owned 0.08% of Reliance worth $15,004,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cordatus Wealth Management LLC raised its holdings in shares of Reliance by 16.9% during the 3rd quarter. Cordatus Wealth Management LLC now owns 829 shares of the industrial products company's stock valued at $319,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Reliance in the 3rd quarter worth $158,000. Assenagon Asset Management S.A. increased its holdings in Reliance by 146.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 21,512 shares of the industrial products company's stock valued at $8,277,000 after purchasing an additional 12,787 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Reliance by 174.5% during the third quarter. Fortitude Family Office LLC now owns 129 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 82 shares in the last quarter. Finally, ProCore Advisors LLC lifted its position in shares of Reliance by 0.3% in the 3rd quarter. ProCore Advisors LLC now owns 65,770 shares of the industrial products company's stock worth $25,305,000 after purchasing an additional 211 shares during the period. Institutional investors own 79.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RS shares. Wall Street Zen lowered Reliance from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. BMO Capital Markets boosted their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. KeyCorp raised their price target on shares of Reliance from $418.00 to $421.00 and gave the company an "overweight" rating in a report on Monday, October 5th. JPMorgan Chase & Co. lifted their price objective on Reliance from $390.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, October 9th. Finally, Wells Fargo & Company dropped their price target on shares of Reliance from $398.00 to $391.00 and set an "equal weight" rating on the stock in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Reliance presently has an average rating of "Hold" and an average target price of $387.43.

Reliance Trading Up 1.5%

Reliance stock opened at $417.31 on Tuesday. The stock has a market cap of $21.31 billion, a P/E ratio of 24.26, a PEG ratio of 0.94 and a beta of 0.95. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $433.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The firm's 50 day moving average price is $398.20 and its 200-day moving average price is $383.03.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business's revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Reliance, Inc. will post 23.70 earnings per share for the current fiscal year.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the transaction, the senior vice president directly owned 19,394 shares of the company's stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by company insiders.

About Reliance

Reliance, Inc NYSE: RS is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.

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