TD Waterhouse Canada Inc. Sells 11,780 Shares of Reliance, Inc. $RS

TD Waterhouse Canada Inc. lessened its holdings in shares of Reliance, Inc. (NYSE:RS) by 69.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,200 shares of the industrial products company’s stock after selling 11,780 shares during the period. TD Waterhouse Canada Inc.’s holdings in Reliance were worth $2,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in shares of Reliance during the first quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Reliance in the second quarter valued at about $37,000. Osterweis Capital Management Inc. acquired a new stake in shares of Reliance in the second quarter valued at about $41,000. Compass Financial Management LLC purchased a new position in shares of Reliance in the second quarter worth about $46,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Reliance by 174.5% in the third quarter. Fortitude Family Office LLC now owns 129 shares of the industrial products company’s stock worth $50,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Key Reliance News

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Large earnings and revenue beats: Reliance reported quarterly earnings of $8.02 per share, above estimates ranging from $6.76 to $6.83 and up sharply from $3.64 a year earlier. Revenue reached a record $5.21 billion, exceeding the $4.74 billion consensus estimate and rising 42.8% year over year. Reliance Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Broad operating momentum: Tons sold increased 4.3% sequentially and 15.6% year over year, while pretax income more than doubled to $531.9 million. The results suggest strong demand and improved profitability across the company’s industrial products businesses. Reliance Third Quarter 2026 Financial Results
• Positive Sentiment: Enhanced shareholder returns: Reliance returned approximately $109 million to shareholders through dividends and repurchases, and increased its share-repurchase authorization to $2.5 billion. This provides an additional potential source of support for the stock.
• Neutral Sentiment: Analyst metric comparisons reinforce the beat: Zacks noted that key operating metrics were stronger than both Wall Street forecasts and year-ago levels, though investors will still assess whether the elevated growth rate can continue.
• Negative Sentiment: Insider selling is a minor caution: Company insiders reported six open-market sales and no purchases during the past six months. These transactions may weigh modestly on sentiment, although they are small relative to Reliance’s market capitalization and do not offset the earnings strength.

Reliance Price Performance

Reliance stock opened at $419.26 on Thursday. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02. The stock has a market cap of $21.41 billion, a P/E ratio of 24.38, a PEG ratio of 0.96 and a beta of 0.95. The company has a 50-day moving average price of $397.92 and a 200 day moving average price of $384.60. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.83 by $1.19. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $4.74 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. Reliance’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.64 earnings per share. Sell-side analysts anticipate that Reliance, Inc. will post 23.70 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RS. Wells Fargo & Company lowered their price target on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday, August 24th. Barclays initiated coverage on shares of Reliance in a research note on Wednesday, October 14th. They set an “equal weight” rating and a $420.00 price objective for the company. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Reliance from $390.00 to $400.00 and gave the company a “neutral” rating in a report on Friday, October 9th. Finally, Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Reliance currently has a consensus rating of “Hold” and a consensus target price of $387.43.

Insider Buying and Selling

In other news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by company insiders.

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.