First Trust Advisors LP Sells 307,780 Shares of Reliance, Inc. $RS

First Trust Advisors LP lessened its position in shares of Reliance, Inc. (NYSE:RS) by 67.2% during the second quarter, Holdings Channel reports. The institutional investor owned 150,105 shares of the industrial products company’s stock after selling 307,780 shares during the quarter. First Trust Advisors LP’s holdings in Reliance were worth $47,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RS. Private Trust Co. NA lifted its holdings in Reliance by 417.6% during the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 71 shares during the last quarter. Allworth Financial LP raised its position in shares of Reliance by 46.3% in the second quarter. Allworth Financial LP now owns 139 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 44 shares during the period. Transamerica Financial Advisors LLC lifted its stake in shares of Reliance by 595.5% during the 1st quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company’s stock valued at $45,000 after buying an additional 131 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Reliance in the 2nd quarter worth approximately $68,000. Finally, Geneos Wealth Management Inc. grew its stake in Reliance by 99.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock valued at $76,000 after buying an additional 131 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Activity

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.56, for a total value of $869,394.96. Following the completion of the sale, the chief operating officer owned 14,021 shares in the company, valued at approximately $3,975,794.76. The trade was a 17.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Karla R. Lewis sold 5,809 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $283.50, for a total transaction of $1,646,851.50. Following the sale, the chief executive officer owned 84,421 shares of the company’s stock, valued at $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. 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 report on Friday, November 14th. BMO Capital Markets cut their target price on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reliance in a report on Monday, December 1st. JPMorgan Chase & Co. lowered their price target on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Zacks Research cut shares of Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Reliance currently has an average rating of “Hold” and a consensus target price of $317.25.

Reliance Price Performance

Shares of NYSE:RS opened at $280.92 on Tuesday. The company’s fifty day moving average price is $277.23 and its 200-day moving average price is $293.40. 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 firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.81 and a beta of 0.92. Reliance, Inc. has a one year low of $250.07 and a one 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 firm 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 period last year, the firm earned $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, equities research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were paid a $1.20 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Reliance’s payout ratio is currently 35.09%.

Reliance 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.