Cornerstone Investment Partners LLC Invests $293,000 in Reliance, Inc. $RS

Cornerstone Investment Partners LLC bought a new stake in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 934 shares of the industrial products company’s stock, valued at approximately $293,000.

Other large investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC boosted its stake in Reliance by 18.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 793 shares of the industrial products company’s stock worth $249,000 after purchasing an additional 121 shares during the period. Paulson Wealth Management Inc. lifted its holdings in shares of Reliance by 5.3% in the second quarter. Paulson Wealth Management Inc. now owns 1,118 shares of the industrial products company’s stock worth $351,000 after buying an additional 56 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Reliance by 5.6% in the second quarter. Savant Capital LLC now owns 3,795 shares of the industrial products company’s stock worth $1,191,000 after buying an additional 200 shares in the last quarter. Achmea Investment Management B.V. boosted its position in shares of Reliance by 8.4% during the second quarter. Achmea Investment Management B.V. now owns 12,960 shares of the industrial products company’s stock worth $4,069,000 after acquiring an additional 1,009 shares during the last quarter. Finally, Andra AP fonden grew its stake in Reliance by 423.5% during the second quarter. Andra AP fonden now owns 26,700 shares of the industrial products company’s stock valued at $8,381,000 after acquiring an additional 21,600 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on RS shares. Wells Fargo & Company decreased their price target on shares of Reliance from $296.00 to $284.00 and set an “equal weight” rating on the stock in a research note on Friday, October 24th. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. BMO Capital Markets decreased 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. Finally, JPMorgan Chase & Co. lowered their target price on Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Three 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 company currently has an average rating of “Hold” and an average price target of $322.40.

Reliance Trading Down 0.7%

Shares of NYSE RS opened at $274.73 on Friday. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43. 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 business’s 50 day moving average is $283.21 and its two-hundred day moving average is $296.07. The stock has a market capitalization of $14.36 billion, a P/E ratio of 20.08, a PEG ratio of 1.46 and a beta of 0.90.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Reliance had a return on equity of 10.37% and a net margin of 5.23%.Reliance’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, research analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be given a dividend of $1.20 per share. The ex-dividend date is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance’s payout ratio is 35.09%.

Reliance Profile

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.