Y Intercept Hong Kong Ltd Takes Position in Reliance, Inc. $RS

Y Intercept Hong Kong Ltd purchased a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,891 shares of the industrial products company’s stock, valued at approximately $2,791,000.

Other hedge funds have also modified their holdings of the company. TCTC Holdings LLC lifted its holdings in shares of Reliance by 138.9% in the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company’s stock valued at $25,000 after buying an additional 50 shares during the period. Private Trust Co. NA raised its holdings in Reliance by 417.6% during the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 71 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Reliance during the first quarter worth $29,000. Wayfinding Financial LLC acquired a new position in Reliance during the first quarter worth $30,000. Finally, Transamerica Financial Advisors LLC raised its holdings in Reliance by 595.5% during the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 131 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RS shares. BMO Capital Markets reduced their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Wells Fargo & Company reduced their price objective on Reliance from $296.00 to $284.00 and set an “equal weight” rating for the company in a report on Friday, October 24th. Finally, Zacks Research cut Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and a consensus price target of $322.40.

Reliance Stock Down 0.9%

Shares of NYSE:RS opened at $279.57 on Friday. The company has a quick ratio of 2.08, 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. The stock’s fifty day simple moving average is $284.87 and its 200-day simple moving average is $296.02. The company has a market capitalization of $14.70 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.46 and a beta of 0.87.

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 the consensus estimate of $3.68 by ($0.04). Reliance had a net margin of 5.23% and a return on equity of 10.37%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company earned $3.64 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, equities research analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Reliance’s payout ratio is currently 35.09%.

Reliance Company 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.