Nordea Investment Management AB Has $1.58 Million Position in Reliance, Inc. $RS

Nordea Investment Management AB reduced its holdings in Reliance, Inc. (NYSE:RS) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,017 shares of the industrial products company’s stock after selling 327 shares during the quarter. Nordea Investment Management AB’s holdings in Reliance were worth $1,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RS. IFP Advisors Inc grew its position in Reliance by 10.7% in the 2nd quarter. IFP Advisors Inc now owns 340 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 33 shares during the period. HB Wealth Management LLC boosted its stake in shares of Reliance by 2.6% in the 2nd quarter. HB Wealth Management LLC now owns 1,338 shares of the industrial products company’s stock worth $420,000 after buying an additional 34 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in shares of Reliance by 3.7% in the first quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 35 shares in the last quarter. Hemington Wealth Management increased its position in shares of Reliance by 18.0% during the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 35 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Reliance by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company’s stock worth $3,200,000 after acquiring an additional 38 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Trading Down 1.7%

Shares of RS opened at $273.99 on Thursday. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The business has a 50-day moving average of $285.81 and a 200 day moving average of $295.58. The firm has a market cap of $14.41 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.33 and a beta of 0.87. 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 (NYSE:RS) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.54 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.Reliance’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Reliance’s payout ratio is presently 35.04%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company raised Reliance to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Finally, Zacks Research downgraded shares of Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Three equities research 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 company currently has an average rating of “Hold” and a consensus price target 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.