Reliance, Inc. $RS Shares Sold by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC lessened its holdings in shares of Reliance, Inc. (NYSE:RS) by 53.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 104 shares of the industrial products company’s stock after selling 120 shares during the period. Private Wealth Asset Management LLC’s holdings in Reliance were worth $33,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

RS has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday. Zacks Research lowered Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded Reliance to a “hold” rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $327.80.

Reliance Stock Down 1.5%

Shares of RS opened at $268.73 on Friday. The firm has a market cap of $14.13 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.31 and a beta of 0.87. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $347.43. The company’s 50-day moving average price is $286.71 and its 200 day moving average price is $295.72. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14.

Reliance (NYSE:RS) 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). The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, sell-side analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, August 15th. Reliance’s payout ratio is 35.04%.

Reliance Company 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.