Norges Bank Acquires Shares of 661,805 Reliance, Inc. $RS

Norges Bank acquired a new stake in shares of Reliance, Inc. (NYSE:RS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 661,805 shares of the industrial products company’s stock, valued at approximately $207,741,000.

A number of other hedge funds also recently made changes to their positions in RS. Avantax Advisory Services Inc. grew its holdings in Reliance by 5.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,300 shares of the industrial products company’s stock valued at $375,000 after buying an additional 66 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Reliance by 2.8% during the 1st quarter. Cetera Investment Advisers now owns 7,237 shares of the industrial products company’s stock worth $2,090,000 after acquiring an additional 196 shares in the last quarter. LPL Financial LLC boosted its position in shares of Reliance by 6.3% during the 1st quarter. LPL Financial LLC now owns 23,344 shares of the industrial products company’s stock valued at $6,741,000 after acquiring an additional 1,388 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Reliance by 9.7% in the first quarter. Mackenzie Financial Corp now owns 4,857 shares of the industrial products company’s stock valued at $1,402,000 after purchasing an additional 428 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in Reliance by 9.8% in the first quarter. Natixis Advisors LLC now owns 18,607 shares of the industrial products company’s stock worth $5,373,000 after purchasing an additional 1,664 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Performance

Shares of NYSE:RS opened at $282.62 on Tuesday. The company has a current ratio of 4.43, a quick ratio of 2.08 and a debt-to-equity ratio of 0.19. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.46 and a beta of 0.90. The firm’s 50-day moving average is $276.98 and its 200 day moving average is $294.01.

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

Reliance Dividend Announcement

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

Analysts Set New Price Targets

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

Reliance Profile

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.