Nordea Investment Management AB Sells 327 Shares of Reliance, Inc. $RS

Nordea Investment Management AB lowered its holdings in Reliance, Inc. (NYSE:RS) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,017 shares of the industrial products company’s stock after selling 327 shares during the period. Nordea Investment Management AB’s holdings in Reliance were worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Ritholtz Wealth Management grew its holdings in shares of Reliance by 16.0% in the 2nd quarter. Ritholtz Wealth Management now owns 4,777 shares of the industrial products company’s stock valued at $1,500,000 after acquiring an additional 658 shares in the last quarter. Bayforest Capital Ltd grew its stake in Reliance by 120.3% in the second quarter. Bayforest Capital Ltd now owns 2,507 shares of the industrial products company’s stock valued at $787,000 after purchasing an additional 1,369 shares in the last quarter. Verdence Capital Advisors LLC bought a new position in Reliance in the second quarter valued at approximately $773,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Reliance by 167.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,701 shares of the industrial products company’s stock worth $848,000 after purchasing an additional 1,692 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Reliance by 3.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,617 shares of the industrial products company’s stock worth $822,000 after purchasing an additional 86 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RS. Zacks Research cut shares of Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reliance in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Reliance to a “hold” rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. reduced their price target on Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $327.80.

Reliance Stock Down 1.7%

Reliance stock opened at $273.99 on Thursday. The company’s 50-day moving average price is $285.81 and its two-hundred day moving average price is $295.58. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. The stock has a market cap of $14.41 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.33 and a beta of 0.87. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $347.43.

Reliance (NYSE:RS) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.54 billion. Reliance had a return on equity of 10.48% and a net margin of 5.39%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, analysts expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 21st. This represents a $4.80 annualized dividend and a yield of 1.8%. Reliance’s dividend payout ratio (DPR) is presently 35.04%.

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.