Reliance, Inc. $RS Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Reliance, Inc. (NYSE:RS) by 4.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 476,577 shares of the industrial products company’s stock after selling 24,536 shares during the quarter. Bank of New York Mellon Corp’s holdings in Reliance were worth $149,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Reliance in the first quarter valued at about $144,089,000. Boston Partners lifted its position in Reliance by 42.7% in 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. William Blair Investment Management LLC purchased a new stake in Reliance in the 2nd quarter valued at approximately $72,373,000. Jacobs Levy Equity Management Inc. acquired a new position in Reliance during the 1st quarter worth approximately $55,004,000. Finally, American Century Companies Inc. raised its stake in shares of Reliance by 37.9% during the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company’s stock worth $170,039,000 after buying an additional 161,892 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RS. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a research note on Wednesday, October 8th. Zacks Research lowered 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 target on shares of 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 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. Finally, BMO Capital Markets lowered their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $322.40.

Reliance Trading Down 0.7%

NYSE:RS opened at $274.73 on Friday. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $283.21 and a 200-day simple moving average of $296.07. The company has a market capitalization of $14.36 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Reliance had a net margin of 5.23% and a return on equity of 10.37%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, equities research analysts expect that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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