Burney Co. Sells 2,976 Shares of Reliance, Inc. $RS

Burney Co. reduced its stake in Reliance, Inc. (NYSE:RS) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,264 shares of the industrial products company’s stock after selling 2,976 shares during the quarter. Burney Co.’s holdings in Reliance were worth $5,419,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RS. Teacher Retirement System of Texas acquired a new position in shares of Reliance during the 1st quarter worth about $4,025,000. IFM Investors Pty Ltd boosted its stake in shares of Reliance by 14.0% during the 1st quarter. IFM Investors Pty Ltd now owns 18,021 shares of the industrial products company’s stock worth $5,212,000 after buying an additional 2,217 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Reliance during the 1st quarter worth about $30,000. Envestnet Asset Management Inc. boosted its stake in shares of Reliance by 6.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,579 shares of the industrial products company’s stock worth $22,690,000 after buying an additional 4,677 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Reliance by 8.2% during the 1st quarter. TD Private Client Wealth LLC now owns 3,728 shares of the industrial products company’s stock worth $1,076,000 after buying an additional 284 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Reliance Stock Down 0.5%

Reliance stock opened at $280.89 on Tuesday. The firm has a market capitalization of $14.69 billion, a PE ratio of 20.53, a P/E/G ratio of 1.46 and a beta of 0.87. The company’s 50-day moving average is $284.38 and its 200-day moving average is $296.36. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08.

Reliance (NYSE:RS) last announced its quarterly 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 net margin of 5.23% and a return on equity of 10.37%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Reliance’s dividend payout ratio (DPR) is 35.09%.

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.