Verdence Capital Advisors LLC Buys Shares of 2,463 Reliance, Inc. $RS

Verdence Capital Advisors LLC bought a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,463 shares of the industrial products company's stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RS. Focus Partners Wealth lifted 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 acquiring an additional 5,886 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Reliance by 478.2% during the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Reliance by 46.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 50,266 shares of the industrial products company's stock worth $16,435,000 after acquiring an additional 15,975 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Reliance by 17.4% in the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company's stock valued at $279,000 after buying an additional 143 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Up 0.1%

Shares of NYSE:RS opened at $275.66 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a 50 day moving average of $287.30 and a two-hundred day moving average of $296.02. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.31 and a beta of 0.87.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business earned $4.65 EPS. The firm's revenue was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

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 dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Reliance's dividend payout ratio (DPR) is presently 35.04%.

Analyst Ratings Changes

Several research firms recently commented on RS. Zacks Research lowered shares of Reliance from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. cut their price target on shares of Reliance from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Monday. Weiss Ratings restated a "hold (c+)" rating on shares of Reliance in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Reliance to a "hold" rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $327.80.

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.

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