iA Global Asset Management Inc. Takes Position in Reliance, Inc. $RS

iA Global Asset Management Inc. purchased a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,252 shares of the industrial products company’s stock, valued at approximately $393,000.

Other hedge funds have also made changes to their positions in the company. Simon Quick Advisors LLC acquired a new position in shares of Reliance in the 2nd quarter worth approximately $203,000. Strs Ohio lifted its holdings in shares of Reliance by 39.9% in the 2nd quarter. Strs Ohio now owns 7,067 shares of the industrial products company’s stock worth $2,218,000 after acquiring an additional 2,016 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Reliance by 215.0% in the 2nd quarter. Atria Investments Inc now owns 2,473 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 1,688 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Reliance by 2.7% in the 2nd quarter. Keybank National Association OH now owns 1,714 shares of the industrial products company’s stock worth $538,000 after acquiring an additional 45 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Reliance by 238.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 389 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Reliance stock opened at $275.81 on Wednesday. The firm has a market cap of $14.42 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.87. 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 company’s 50 day moving average is $283.98 and its two-hundred day moving average is $296.36.

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

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be given a $1.20 dividend. The ex-dividend date of this dividend 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 is currently 35.09%.

Analyst Ratings Changes

Several brokerages have recently commented on RS. Wells Fargo & Company decreased their price objective on shares of Reliance from $296.00 to $284.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. Finally, Zacks Research lowered shares of Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $322.40.

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.