8,146 Reliance, Inc. $RS Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in Reliance, Inc. (NYSE:RS) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,009 shares of the industrial products company’s stock after selling 8,146 shares during the quarter. ProShare Advisors LLC’s holdings in Reliance were worth $27,705,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in Reliance during the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new stake in Reliance in the second quarter worth about $37,000. Compass Financial Management LLC purchased a new stake in Reliance in the second quarter worth about $46,000. Osterweis Capital Management Inc. purchased a new stake in Reliance in the second quarter worth about $41,000. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Reliance during the third quarter valued at approximately $43,000. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Reliance

In other news, COO Stephen Koch sold 8,334 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $430.87, for a total value of $3,590,870.58. Following the completion of the transaction, the chief operating officer owned 8,209 shares in the company, valued at $3,537,011.83. The trade was a 50.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Key Stories Impacting Reliance

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Quarterly earnings beat expectations: Reliance’s third-quarter earnings surged 120.3% year over year, supported by higher steel prices, record shipments and contributions from border-wall projects. The strong sales and profit growth reinforces the company’s favorable earnings momentum. Reliance third-quarter earnings report
• Positive Sentiment: Analyst sees additional upside: A JPMorgan analyst reportedly expects Reliance stock to rise, providing a supportive signal for investor sentiment. However, the broader analyst consensus remains cautious, with several firms maintaining neutral or equal-weight ratings. JPMorgan Reliance stock outlook
• Neutral Sentiment: Strong fundamentals are already reflected in the valuation: Reliance recently reported quarterly EPS of $8.02 versus a $6.83 consensus estimate, while revenue rose 42.8% year over year to $5.21 billion. The results are favorable, but the stock is trading near its 52-week high, increasing the risk of profit-taking and limiting the impact of additional good news.
• Negative Sentiment: COO sells a substantial stake: COO Stephen Koch sold 8,334 shares for approximately $3.59 million, reducing his ownership by about 50%. The sale may weigh on sentiment because it occurred near recent highs, although insider transactions can be routine and do not necessarily indicate deteriorating business conditions. Reliance COO insider sale
• Neutral Sentiment: Indian Reliance headlines are unrelated: Reports about Reliance Industries, Jio Platforms, and Reliance Retail—including strong consolidated profit growth and Jio’s listing—concern the separate Indian conglomerate, not Reliance, Inc. (NYSE: RS). They should not be treated as direct catalysts for RS.

Analyst Upgrades and Downgrades

RS has been the subject of several recent research reports. Weiss Ratings lowered shares of Reliance from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Reliance from $400.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. KeyCorp upped their price target on Reliance from $421.00 to $437.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Barclays raised their price objective on Reliance from $420.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Finally, Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $400.29.

Reliance Stock Performance

Shares of Reliance stock opened at $437.28 on Monday. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.92 and a beta of 0.95. The firm’s 50-day moving average is $400.34 and its 200 day moving average is $368.21. Reliance, Inc. has a 1 year low of $263.12 and a 1 year high of $442.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.12 and a quick ratio of 2.22.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.83 by $1.19. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $4.74 billion. Reliance had a net margin of 6.38% and a return on equity of 15.31%. Reliance’s revenue was up 42.8% compared to the same quarter last year. During the same period last year, the business earned $3.64 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 24.99 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 20th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.1%. Reliance’s dividend payout ratio (DPR) is presently 23.31%.

About Reliance

Reliance, Inc (NYSE: RS) is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.