Empower Advisory Group LLC Cuts Holdings in Reliance, Inc. $RS

Empower Advisory Group LLC trimmed its position in Reliance, Inc. (NYSE:RS) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,859 shares of the industrial products company’s stock after selling 594 shares during the quarter. Empower Advisory Group LLC owned about 0.07% of Reliance worth $12,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners increased its stake in Reliance by 72.4% in the 2nd quarter. Boston Partners now owns 1,761,754 shares of the industrial products company’s stock worth $551,971,000 after acquiring an additional 739,854 shares during the last quarter. Nuveen LLC purchased a new position in shares of Reliance in the first quarter valued at $144,089,000. William Blair Investment Management LLC bought a new stake in Reliance in the second quarter worth $72,373,000. Jacobs Levy Equity Management Inc. purchased a new stake in Reliance during the first quarter valued at $55,004,000. Finally, American Century Companies Inc. lifted its position in Reliance by 37.9% during the first quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company’s stock valued at $170,039,000 after purchasing an additional 161,892 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Reliance from $284.00 to $287.00 and gave the stock an “equal weight” rating in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research note on Thursday. BMO Capital Markets lowered their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Zacks Research cut Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. decreased their price target on Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and a consensus price target of $323.00.

Reliance Stock Performance

RS stock opened at $269.82 on Friday. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.46 and a beta of 0.90. Reliance, Inc. has a twelve month low of $250.07 and a twelve month 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 business’s fifty day simple moving average is $280.67 and its two-hundred day simple moving average is $295.75.

Reliance (NYSE:RS) last posted 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 the consensus estimate of $3.54 billion. Reliance had a return on equity of 10.37% and a net margin of 5.23%.During the same quarter in the previous year, the company posted $3.64 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. Analysts predict 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. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, November 21st. Reliance’s payout ratio is currently 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.