Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 1,863 Shares of Reliance, Inc. $RS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in shares of Reliance, Inc. (NYSE:RS) by 34.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,596 shares of the industrial products company’s stock after selling 1,863 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Reliance were worth $1,129,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Reliance in a research note on Tuesday, September 9th. They issued an “overweight” rating and a $350.00 target price for the company. Wells Fargo & Company upgraded shares of Reliance to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reliance in a research note on Saturday, September 27th. Finally, Zacks Research cut shares of Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $328.80.

Reliance Price Performance

RS opened at $283.48 on Friday. The company has a fifty day moving average price of $289.24 and a two-hundred day moving average price of $296.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The firm has a market capitalization of $14.91 billion, a PE ratio of 20.69, a P/E/G ratio of 1.35 and a beta of 0.87.

Reliance (NYSE:RS) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS 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 analyst estimates of $3.66 billion. During the same period in the prior year, the firm posted $4.65 EPS. Reliance’s revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance’s 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.