State of Alaska Department of Revenue Has $14.07 Million Stake in Reliance, Inc. $RS

State of Alaska Department of Revenue cut its stake in Reliance, Inc. (NYSE:RS) by 1.0% in the second quarter, HoldingsChannel.com reports. The fund owned 44,812 shares of the industrial products company’s stock after selling 430 shares during the period. State of Alaska Department of Revenue’s holdings in Reliance were worth $14,065,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Kathmere Capital Management LLC raised its holdings in Reliance by 52.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,379 shares of the industrial products company’s stock worth $433,000 after buying an additional 476 shares during the period. Plancorp LLC raised its stake in Reliance by 28.3% in the second quarter. Plancorp LLC now owns 2,609 shares of the industrial products company’s stock valued at $819,000 after buying an additional 576 shares during the period. TD Private Client Wealth LLC lifted its holdings in Reliance by 24.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 4,643 shares of the industrial products company’s stock valued at $1,457,000 after purchasing an additional 915 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Reliance by 2.0% during the second quarter. Public Employees Retirement System of Ohio now owns 23,129 shares of the industrial products company’s stock worth $7,260,000 after acquiring an additional 462 shares during the last quarter. Finally, Occidental Asset Management LLC grew its holdings in Reliance by 1.3% in the 2nd quarter. Occidental Asset Management LLC now owns 17,659 shares of the industrial products company’s stock valued at $5,543,000 after buying an additional 233 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Performance

Reliance stock opened at $283.71 on Friday. The business has a 50 day moving average of $293.64 and a 200-day moving average of $296.46. The company has a market capitalization of $14.92 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.35 and a beta of 0.89. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.18 and a quick ratio of 1.51.

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

Reliance Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RS shares. Zacks Research lowered Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company upgraded Reliance to a “hold” rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. started coverage on shares of Reliance in a research note on Tuesday, September 9th. They issued an “overweight” rating and a $350.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Reliance currently 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.