Envestnet Portfolio Solutions Inc. Has $848,000 Stock Position in Reliance, Inc. $RS

Envestnet Portfolio Solutions Inc. grew its stake in shares of Reliance, Inc. (NYSE:RS) by 167.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,701 shares of the industrial products company’s stock after buying an additional 1,692 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Reliance were worth $848,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RS. Nuveen LLC acquired a new position in shares of Reliance during the first quarter valued at about $144,089,000. Boston Partners raised its holdings in shares of Reliance by 42.7% during the first quarter. Boston Partners now owns 1,021,900 shares of the industrial products company’s stock valued at $295,052,000 after purchasing an additional 305,620 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Reliance during the first quarter valued at about $55,004,000. American Century Companies Inc. raised its holdings in shares of Reliance by 37.9% in 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 last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Reliance by 71.1% in the 1st quarter. Russell Investments Group Ltd. now owns 122,628 shares of the industrial products company’s stock worth $35,394,000 after acquiring an additional 50,965 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

RS has been the topic of a number of analyst reports. 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. lowered their target price on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Wells Fargo & Company upgraded shares of Reliance to a “hold” rating in a report on Thursday, August 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Reliance presently has an average rating of “Hold” and an average price target of $327.80.

Reliance Trading Up 1.1%

NYSE:RS opened at $272.10 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.30 and a beta of 0.87. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The firm has a 50-day moving average price of $286.45 and a two-hundred day moving average price of $295.75.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.29). The firm 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 company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. On average, equities analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $1.20 dividend. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.8%. Reliance’s dividend payout ratio (DPR) 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.