Assetmark Inc. Sells 1,133 Shares of Reliance, Inc. $RS

Assetmark Inc. lowered its holdings in Reliance, Inc. (NYSE:RS) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,662 shares of the industrial products company’s stock after selling 1,133 shares during the quarter. Assetmark Inc. owned approximately 0.05% of Reliance worth $8,683,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Keybank National Association OH raised its holdings in shares of Reliance by 2.7% in the 2nd quarter. Keybank National Association OH now owns 1,714 shares of the industrial products company’s stock valued at $538,000 after purchasing an additional 45 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Reliance by 238.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 389 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 274 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Reliance by 351.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 62,947 shares of the industrial products company’s stock worth $19,759,000 after acquiring an additional 49,007 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Reliance during the 2nd quarter worth approximately $2,791,000. Finally, MorganRosel Wealth Management LLC raised its stake in shares of Reliance by 47.1% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 2,717 shares of the industrial products company’s stock worth $853,000 after acquiring an additional 870 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Wells Fargo & Company reduced their price objective on shares of Reliance from $296.00 to $284.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reliance in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Finally, Zacks Research lowered 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $322.40.

Reliance Stock Up 0.9%

NYSE:RS opened at $282.41 on Friday. The company has a market cap of $14.85 billion, a PE ratio of 20.64, a P/E/G ratio of 1.46 and a beta of 0.87. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43. The company has a current ratio of 4.43, a quick ratio of 2.08 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $284.64 and its two-hundred day moving average is $296.19.

Reliance (NYSE:RS) last released 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). The company had revenue of $3.65 billion for 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%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. Analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently announced 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. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 21st. Reliance’s payout ratio is currently 35.09%.

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.