Reliance, Inc. $RS Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its Reliance stake by 69.4% in the third quarter, selling 11,780 shares and retaining 5,200 shares valued at approximately $2.04 million. Institutional investors still own about 79.3% of the company.
• Reliance delivered a strong quarterly performance: EPS of $8.02 exceeded the $6.83 consensus estimate, while revenue rose 42.8% year over year to a record $5.21 billion. The company also returned roughly $109 million to shareholders and raised its repurchase authorization to $2.5 billion.
• Analysts remain generally cautious, with a consensus rating of “Hold” and an average price target of $387.43, below the reported share price of $419.26. Recent insider activity was also negative, with executives selling shares and no reported purchases.

TD Waterhouse Canada Inc. reduced its position in Reliance, Inc. (NYSE:RS - Free Report) by 69.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the industrial products company's stock after selling 11,780 shares during the period. TD Waterhouse Canada Inc.'s holdings in Reliance were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Reliance by 1.7% in the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company's stock valued at $580,000 after buying an additional 31 shares in the last quarter. Greenleaf Trust raised its position in shares of Reliance by 2.0% in the second quarter. Greenleaf Trust now owns 1,614 shares of the industrial products company's stock worth $603,000 after acquiring an additional 32 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Reliance by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company's stock worth $1,209,000 after acquiring an additional 34 shares in the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Reliance by 4.8% during the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company's stock worth $250,000 after acquiring an additional 38 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Reliance by 27.6% during the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company's stock worth $56,000 after acquiring an additional 40 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RS. Barclays began coverage on Reliance in a research note on Wednesday, October 14th. They issued an "equal weight" rating and a $420.00 price target for the company. BMO Capital Markets upped their price target on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Wall Street Zen downgraded Reliance from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Weiss Ratings raised Reliance from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Citigroup reissued a "neutral" rating on shares of Reliance in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $387.43.

Trending Headlines about Reliance

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Large earnings and revenue beats: Reliance reported quarterly earnings of $8.02 per share, above estimates ranging from $6.76 to $6.83 and up sharply from $3.64 a year earlier. Revenue reached a record $5.21 billion, exceeding the $4.74 billion consensus estimate and rising 42.8% year over year. Reliance Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Broad operating momentum: Tons sold increased 4.3% sequentially and 15.6% year over year, while pretax income more than doubled to $531.9 million. The results suggest strong demand and improved profitability across the company’s industrial products businesses. Reliance Third Quarter 2026 Financial Results
• Positive Sentiment: Enhanced shareholder returns: Reliance returned approximately $109 million to shareholders through dividends and repurchases, and increased its share-repurchase authorization to $2.5 billion. This provides an additional potential source of support for the stock.
• Neutral Sentiment: Analyst metric comparisons reinforce the beat: Zacks noted that key operating metrics were stronger than both Wall Street forecasts and year-ago levels, though investors will still assess whether the elevated growth rate can continue.
• Negative Sentiment: Insider selling is a minor caution: Company insiders reported six open-market sales and no purchases during the past six months. These transactions may weigh modestly on sentiment, although they are small relative to Reliance’s market capitalization and do not offset the earnings strength.

Insider Activity

In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by corporate insiders.

Reliance Stock Performance

NYSE:RS opened at $419.26 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The company has a fifty day moving average of $397.92 and a two-hundred day moving average of $384.60. The stock has a market capitalization of $21.41 billion, a PE ratio of 24.38, a P/E/G ratio of 0.96 and a beta of 0.95. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02.

Reliance (NYSE:RS - Get Free Report) last announced its earnings results on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.83 by $1.19. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business earned $3.64 earnings per share. The company's revenue for the quarter was up 42.8% compared to the same quarter last year. As a group, research analysts forecast that Reliance, Inc. will post 23.70 earnings per share for the current fiscal year.

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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