Summit Financial LLC Buys 493 Shares of Reliance, Inc. $RS

Summit Financial LLC raised its stake in Reliance, Inc. (NYSE:RS) by 58.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,333 shares of the industrial products company’s stock after purchasing an additional 493 shares during the period. Summit Financial LLC’s holdings in Reliance were worth $385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its stake in 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 in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Reliance during the first quarter valued at about $292,000. Credit Agricole S A grew its holdings in shares of Reliance by 12.7% during the first quarter. Credit Agricole S A now owns 2,779 shares of the industrial products company’s stock valued at $802,000 after buying an additional 313 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Reliance by 7.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,803 shares of the industrial products company’s stock valued at $521,000 after buying an additional 118 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Reliance by 23.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,343 shares of the industrial products company’s stock valued at $965,000 after buying an additional 645 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RS shares. Wells Fargo & Company upgraded shares of Reliance to a “hold” rating in a report on Thursday, August 14th. Zacks Research cut shares of Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $323.50.

Reliance Stock Up 2.9%

Reliance stock opened at $294.07 on Monday. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The stock has a market cap of $15.47 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. The firm’s 50-day simple moving average is $307.99 and its 200 day simple moving average is $296.50. 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 released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Research analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.6%. Reliance’s payout ratio is 35.04%.

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.