Sowell Financial Services LLC Invests $397,000 in Reliance, Inc. $RS

Sowell Financial Services LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,265 shares of the industrial products company’s stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RS. Cordatus Wealth Management LLC raised its position in Reliance by 3.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 974 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 35 shares in the last quarter. Hemington Wealth Management grew its stake in Reliance by 18.0% during the 1st quarter. Hemington Wealth Management now owns 229 shares of the industrial products company’s stock worth $66,000 after buying an additional 35 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Reliance by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company’s stock worth $3,200,000 after buying an additional 38 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Reliance by 11.1% during the 1st quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company’s stock worth $116,000 after buying an additional 40 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Reliance by 0.5% in the 1st quarter. Xponance Inc. now owns 9,245 shares of the industrial products company’s stock valued at $2,669,000 after purchasing an additional 45 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Performance

Reliance stock opened at $280.90 on Friday. The stock has a fifty day moving average price of $294.69 and a 200 day moving average price of $296.32. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $14.77 billion, a P/E ratio of 20.50, a PEG ratio of 1.36 and a beta of 0.89.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.29). Reliance had a net margin of 5.39% and a return on equity of 10.48%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the firm posted $4.65 EPS. Reliance’s revenue was up .5% on a year-over-year basis. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. Equities research analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Reliance’s dividend payout ratio is presently 35.04%.

Analyst Ratings Changes

RS has been the topic of several analyst reports. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. initiated coverage on Reliance in a report on Tuesday, September 9th. They set an “overweight” rating and a $350.00 price objective for the company. Finally, Wells Fargo & Company raised Reliance to a “hold” rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $328.80.

About Reliance

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.