Harbor Capital Advisors Inc. Reduces Position in Reliance, Inc. $RS

Harbor Capital Advisors Inc. decreased its holdings in Reliance, Inc. (NYSE:RS) by 75.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,968 shares of the industrial products company’s stock after selling 6,191 shares during the period. Harbor Capital Advisors Inc.’s holdings in Reliance were worth $553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its holdings in shares of Reliance by 417.6% in 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 grew its holdings in Reliance by 46.3% in the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company’s stock valued at $44,000 after buying an additional 44 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Reliance in the 2nd quarter worth $58,000. Transamerica Financial Advisors LLC raised its holdings in shares of Reliance by 31.4% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 201 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 48 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of Reliance during the 2nd quarter worth $68,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RS has been the subject of a number of analyst reports. BMO Capital Markets dropped their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Wells Fargo & Company increased their price target on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. reduced their price target on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $317.25.

Insider Activity

In related news, CEO Karla R. Lewis sold 5,809 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $283.50, for a total transaction of $1,646,851.50. Following the completion of the transaction, the chief executive officer directly owned 84,421 shares in the company, valued at $23,933,353.50. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stephen Paul Koch sold 3,066 shares of Reliance stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $283.56, for a total value 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 approximately $3,975,794.76. This represents a 17.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.35% of the stock is currently owned by corporate insiders.

Reliance Price Performance

Shares of RS opened at $296.35 on Monday. The firm has a 50-day simple moving average of $280.87 and a two-hundred day simple moving average of $292.33. The stock has a market cap of $15.50 billion, a PE ratio of 21.66, a P/E/G ratio of 1.90 and a beta of 0.92. Reliance, Inc. has a 1-year low of $250.07 and a 1-year high of $347.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). Reliance had a return on equity of 10.37% and a net margin of 5.23%.The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted $3.64 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, November 21st. Reliance’s payout ratio is currently 35.09%.

Reliance Profile

Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.