Linden Thomas Advisory Services LLC Sells 3,236 Shares of Reliance, Inc. $RS

Linden Thomas Advisory Services LLC lessened its position in shares of Reliance, Inc. (NYSE:RS) by 80.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 810 shares of the industrial products company’s stock after selling 3,236 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Reliance were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Nuveen LLC bought a new stake in Reliance during the 1st quarter worth approximately $144,089,000. Boston Partners increased its holdings in Reliance by 42.7% during the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company’s stock worth $295,052,000 after acquiring an additional 305,620 shares during the period. William Blair Investment Management LLC purchased a new position in Reliance in the 2nd quarter worth approximately $72,373,000. Jacobs Levy Equity Management Inc. purchased a new position in Reliance in the 1st quarter worth approximately $55,004,000. Finally, American Century Companies Inc. grew its stake in Reliance by 37.9% in 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. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 research note on Monday, October 13th. Wells Fargo & Company cut 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. Weiss Ratings reaffirmed 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 report on Wednesday, August 13th. Finally, BMO Capital Markets lowered their price target on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus target price of $322.40.

Reliance Stock Up 0.6%

Shares of Reliance stock opened at $278.73 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08. The company has a 50-day moving average of $285.21 and a 200 day moving average of $296.10. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.43 and a beta of 0.87. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43.

Reliance (NYSE:RS) last issued its quarterly earnings results 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). The business 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%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, sell-side analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company 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 yield of 1.7%. The ex-dividend date of this dividend is Friday, November 21st. Reliance’s dividend payout ratio is 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.