Verdence Capital Advisors LLC Buys Shares of 2,463 Reliance, Inc. $RS

Verdence Capital Advisors LLC bought a new stake in Reliance, Inc. (NYSE:RS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,463 shares of the industrial products company’s stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RS. Focus Partners Wealth lifted its holdings in shares of Reliance by 387.5% during the 1st quarter. Focus Partners Wealth now owns 7,405 shares of the industrial products company’s stock worth $2,138,000 after acquiring an additional 5,886 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Reliance by 478.2% during the 1st quarter. Plato Investment Management Ltd now owns 5,262 shares of the industrial products company’s stock worth $1,536,000 after acquiring an additional 4,352 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Reliance by 46.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 50,266 shares of the industrial products company’s stock worth $16,435,000 after acquiring an additional 15,975 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Reliance by 17.4% in the first quarter. GAMMA Investing LLC now owns 966 shares of the industrial products company’s stock valued at $279,000 after buying an additional 143 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Up 0.1%

Shares of NYSE:RS opened at $275.66 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a 50 day moving average of $287.30 and a two-hundred day moving average of $296.02. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.31 and a beta of 0.87.

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). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business earned $4.65 EPS. The firm’s revenue was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Reliance’s dividend payout ratio (DPR) is presently 35.04%.

Analyst Ratings Changes

Several research firms recently commented on RS. Zacks Research lowered shares of Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. cut their price target on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Reliance to a “hold” rating in a report on Thursday, August 14th. Three 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 stock has an average rating of “Hold” and a consensus target price of $327.80.

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.