661,805 Shares in Reliance, Inc. $RS Bought by Norges Bank

Norges Bank acquired a new stake of 661,805 shares in Reliance, Inc. (NYSE:RS) during the second quarter, valued at approximately $207.74 million. This acquisition represents about 1.26% of Reliance. Other institutional investors also increased their positions in Reliance. The company's stock opened at $282.62, with a market cap of $14.78 billion. Reliance reported Q2 earnings of $3.64 per share, slightly missing estimates. The company announced a quarterly dividend of $1.20 per share, payable on December 5th.

Norges Bank acquired a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 661,805 shares of the industrial products company's stock, valued at approximately $207,741,000. Norges Bank owned about 1.26% of Reliance as of its most recent filing with the Securities and Exchange Commission (SEC).

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A number of other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA increased its position in shares of Reliance by 417.6% during the 2nd 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 boosted its holdings 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 worth $44,000 after buying an additional 44 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in Reliance by 595.5% during the first 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 during the period. Trust Co. of Toledo NA OH purchased a new stake in Reliance during the second quarter valued at approximately $68,000. Finally, Hemington Wealth Management raised its position in Reliance by 18.0% in the first quarter. Hemington Wealth Management now owns 229 shares of the industrial products company's stock worth $66,000 after acquiring an additional 35 shares during the period. Institutional investors own 79.26% of the company's stock.

Reliance Trading Up 1.2%

Shares of RS stock opened at $282.62 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. The stock has a fifty day simple moving average of $276.98 and a two-hundred day simple moving average of $294.01. The firm has a market capitalization of $14.78 billion, a PE ratio of 20.66, a PEG ratio of 1.46 and a beta of 0.90. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43.

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Reliance (NYSE:RS - Get Free Report) last released 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 business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the company earned $3.64 EPS. The business's revenue was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 21st. Reliance's dividend payout ratio (DPR) is 35.09%.

Wall Street Analysts Forecast Growth

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RS has been the topic of several analyst reports. Zacks Research cut shares of Reliance from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company lifted their target price on Reliance from $284.00 to $287.00 and gave the company an "equal weight" rating in a research report on Friday, November 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Reliance in a report on Tuesday, November 25th. BMO Capital Markets decreased their price objective on Reliance from $340.00 to $315.00 and set an "outperform" rating on the stock in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Reliance from $350.00 to $345.00 and set an "overweight" rating on the stock in a research report on Monday, October 13th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $318.50.

View Our Latest Stock Report on Reliance

Reliance Profile

(Free Report)

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.

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