Y Intercept Hong Kong Ltd Takes Position in Reliance, Inc. $RS

Y Intercept Hong Kong Ltd acquired a new stake in Reliance, Inc. (NYSE:RS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,891 shares of the industrial products company’s stock, valued at approximately $2,791,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Boston Partners grew its position in shares of Reliance by 42.7% in the first quarter. Boston Partners now owns 1,021,900 shares of the industrial products company’s stock valued at $295,052,000 after purchasing an additional 305,620 shares during the period. T. Rowe Price Investment Management Inc. grew its position 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 purchasing an additional 7,474 shares during the period. American Century Companies Inc. grew its position 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 purchasing an additional 161,892 shares during the period. Nuveen LLC purchased a new stake in shares of Reliance in the first quarter valued at $144,089,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Reliance by 11.2% during 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 period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of NYSE RS opened at $279.57 on Friday. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43. The business has a 50-day moving average of $284.87 and a 200-day moving average of $296.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.46 and a beta of 0.87.

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 the consensus estimate of $3.68 by ($0.04). Reliance had a return on equity of 10.37% and a net margin of 5.23%.The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company earned $3.64 EPS. Reliance’s quarterly revenue was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance’s dividend payout ratio is presently 35.09%.

Analysts Set New Price Targets

A number of research firms have recently commented on RS. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Reliance from $296.00 to $284.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. cut their price objective on Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Finally, BMO Capital Markets cut their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. Three investment 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 has an average rating of “Hold” and a consensus target price of $322.40.

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.