KBC Group NV Sells 5,124 Shares of Reliance, Inc. $RS

KBC Group NV reduced its stake in shares of Reliance, Inc. (NYSE:RS) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,031 shares of the industrial products company’s stock after selling 5,124 shares during the quarter. KBC Group NV owned 0.25% of Reliance worth $41,131,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Reliance by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,579 shares of the industrial products company’s stock worth $22,690,000 after purchasing an additional 4,677 shares during the period. Ballentine Partners LLC purchased a new position in shares of Reliance in the first quarter worth $214,000. CWM LLC increased its stake in shares of Reliance by 451.7% in the first quarter. CWM LLC now owns 5,412 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 4,431 shares during the period. Securian Asset Management Inc. raised its holdings in Reliance by 2.4% during the 1st quarter. Securian Asset Management Inc. now owns 4,191 shares of the industrial products company’s stock valued at $1,210,000 after buying an additional 100 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Reliance during the 1st quarter valued at $4,665,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RS shares. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. lowered their price target on Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. BMO Capital Markets dropped their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Zacks Research cut Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Reliance has an average rating of “Hold” and a consensus target price of $322.40.

Reliance Stock Performance

Shares of RS stock opened at $276.03 on Thursday. The company’s fifty day moving average price is $281.68 and its 200-day moving average price is $295.97. The stock has a market cap of $14.43 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. The company has a current ratio of 4.43, a quick ratio of 2.08 and a debt-to-equity ratio of 0.19. Reliance, Inc. has a 12 month low of $250.07 and a 12 month 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 analysts’ consensus estimates 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 company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, equities analysts expect that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

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