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

ProShare Advisors LLC lowered its stake in shares of Reliance, Inc. (NYSE:RS) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,009 shares of the industrial products company’s stock after selling 8,146 shares during the period. ProShare Advisors LLC owned 0.14% of Reliance worth $27,705,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RS. Vise Technologies Inc. grew its holdings in Reliance by 36.5% during the third quarter. Vise Technologies Inc. now owns 4,832 shares of the industrial products company’s stock valued at $1,859,000 after purchasing an additional 1,293 shares during the period. MGO One Seven LLC raised its stake in shares of Reliance by 34.5% in the third quarter. MGO One Seven LLC now owns 4,765 shares of the industrial products company’s stock valued at $1,833,000 after buying an additional 1,221 shares during the period. Choreo LLC raised its stake in shares of Reliance by 6.1% in the third quarter. Choreo LLC now owns 1,502 shares of the industrial products company’s stock valued at $578,000 after buying an additional 86 shares during the period. Childress Capital Advisors LLC lifted its position in shares of Reliance by 4.9% during the 3rd quarter. Childress Capital Advisors LLC now owns 600 shares of the industrial products company’s stock valued at $231,000 after buying an additional 28 shares during the last quarter. Finally, Generali Asset Management SPA SGR lifted its position in shares of Reliance by 739.1% during the 3rd quarter. Generali Asset Management SPA SGR now owns 1,460 shares of the industrial products company’s stock valued at $562,000 after buying an additional 1,286 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on Reliance from $391.00 to $420.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. Barclays increased their price target on shares of Reliance from $420.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. KeyCorp lifted their target price on shares of Reliance from $421.00 to $437.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Finally, Weiss Ratings cut shares of Reliance from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $400.29.

Key Reliance News

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.

Insider Activity at Reliance

In other news, COO Stephen Koch sold 8,334 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $430.87, for a total transaction of $3,590,870.58. Following the completion of the transaction, the chief operating officer directly owned 8,209 shares of the company’s stock, valued at approximately $3,537,011.83. This represents a 50.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

Reliance Price Performance

Shares of Reliance stock opened at $437.28 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.22 and a current ratio of 4.12. Reliance, Inc. has a 52-week low of $263.12 and a 52-week high of $442.94. The company has a fifty day moving average of $400.34 and a 200-day moving average of $368.21. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95.

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 analysts’ expectations of $4.74 billion. Reliance had a net margin of 6.38% and a return on equity of 15.31%. The firm’s revenue was up 42.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.64 EPS. Equities research analysts expect that Reliance, Inc. will post 24.99 EPS for the current year.

Reliance Dividend Announcement

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