Optimum Investment Advisors Sells 50 Shares of Reliance, Inc. $RS

Optimum Investment Advisors decreased its stake in shares of Reliance, Inc. (NYSE:RS) by 6.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 750 shares of the industrial products company’s stock after selling 50 shares during the period. Optimum Investment Advisors’ holdings in Reliance were worth $235,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC increased its position in Reliance by 138.9% during the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Private Trust Co. NA increased its position in Reliance by 417.6% during the 2nd quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 71 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Reliance during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in Reliance during the 1st quarter valued at about $30,000. Finally, Transamerica Financial Advisors LLC increased its position in Reliance by 595.5% during the 1st quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

RS has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Reliance in a research report on Saturday. Wells Fargo & Company cut their target price on shares of Reliance from $296.00 to $284.00 and set an “equal weight” rating on the stock in a research report on Friday. Zacks Research downgraded shares of Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Finally, BMO Capital Markets cut their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $322.40.

Reliance Stock Up 1.3%

Shares of Reliance stock opened at $277.33 on Friday. The firm’s 50 day moving average price is $285.30 and its 200-day moving average price is $295.99. The company has a market cap of $14.58 billion, a P/E ratio of 20.27, a PEG ratio of 1.34 and a beta of 0.87. The company has a quick ratio of 1.51, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43.

Reliance (NYSE:RS) last released its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The company had revenue of $3.65 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, sell-side analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be paid a $1.20 dividend. The ex-dividend date is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Reliance’s dividend payout ratio (DPR) is 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.