California Public Employees Retirement System Lowers Stock Holdings in Reliance, Inc. $RS

California Public Employees Retirement System cut its stake in shares of Reliance, Inc. (NYSE:RS) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,448 shares of the industrial products company’s stock after selling 2,186 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Reliance worth $36,553,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in shares of Reliance by 56.6% during the second quarter. Cerity Partners LLC now owns 3,087 shares of the industrial products company’s stock worth $969,000 after purchasing an additional 1,116 shares during the last quarter. Amundi increased its stake in Reliance by 25.4% in the 2nd quarter. Amundi now owns 161,047 shares of the industrial products company’s stock valued at $52,411,000 after buying an additional 32,611 shares during the period. Marshall Wace LLP acquired a new stake in shares of Reliance in the 2nd quarter worth $1,318,000. Epoch Investment Partners Inc. lifted its stake in shares of Reliance by 0.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 265,838 shares of the industrial products company’s stock worth $83,447,000 after acquiring an additional 1,380 shares during the period. Finally, Walleye Capital LLC boosted its holdings in shares of Reliance by 2,192.5% in the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 1,162 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Stock Up 2.9%

Reliance stock opened at $288.67 on Thursday. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $347.43. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92. The stock’s fifty day moving average is $277.32 and its two-hundred day moving average is $293.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43.

Reliance (NYSE:RS) last released 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 analyst estimates of $3.54 billion. Reliance had a return on equity of 10.37% and a net margin of 5.23%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. 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. Analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on RS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a report on Monday. JPMorgan Chase & Co. cut their target price on Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, December 5th. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. BMO Capital Markets dropped their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. Finally, Wells Fargo & Company raised their target price on Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Reliance presently has a consensus rating of “Hold” and a consensus price target of $317.25.

Insider Buying and Selling

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

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.