Westpac Banking Corp Has $2.78 Million Stock Holdings in Reliance, Inc. $RS

Westpac Banking Corp lowered its stake in Reliance, Inc. (NYSE:RS) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,861 shares of the industrial products company’s stock after selling 608 shares during the period. Westpac Banking Corp’s holdings in Reliance were worth $2,781,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RS. Focus Partners Wealth grew its position in shares of Reliance by 387.5% during the 1st quarter. Focus Partners Wealth now owns 7,405 shares of the industrial products company’s stock worth $2,138,000 after buying an additional 5,886 shares during the period. Plato Investment Management Ltd boosted its stake in Reliance by 478.2% during the first quarter. Plato Investment Management Ltd now owns 5,262 shares of the industrial products company’s stock worth $1,536,000 after acquiring an additional 4,352 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Reliance by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company’s stock valued at $133,196,000 after purchasing an additional 46,377 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Reliance in the second quarter valued at $72,373,000. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Reliance during the 2nd quarter worth about $607,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Down 1.3%

Shares of NYSE:RS opened at $269.82 on Friday. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43. The company has a market capitalization of $14.11 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. The business has a fifty day moving average price of $280.67 and a two-hundred day moving average price of $295.75. 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 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 business 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 10.37% and a net margin of 5.23%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. Analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.8%. Reliance’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Wells Fargo & Company lifted their price target on Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research note on Friday. Zacks Research downgraded 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 report on Thursday. Finally, BMO Capital Markets dropped their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, October 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $323.00.

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.