New York State Teachers Retirement System Has $18.08 Million Stake in Reliance, Inc. $RS

New York State Teachers Retirement System decreased its stake in Reliance, Inc. (NYSE:RS) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,609 shares of the industrial products company’s stock after selling 359 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Reliance worth $18,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RS. Nuveen LLC acquired a new position in Reliance in the first quarter valued at about $144,089,000. Boston Partners raised its position in shares of Reliance by 42.7% during the first quarter. Boston Partners now owns 1,021,900 shares of the industrial products company’s stock worth $295,052,000 after purchasing an additional 305,620 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Reliance during the first quarter worth about $55,004,000. American Century Companies Inc. raised its position in shares of Reliance by 37.9% during the first quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company’s stock worth $170,039,000 after purchasing an additional 161,892 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Reliance by 71.1% during the first quarter. Russell Investments Group Ltd. now owns 122,628 shares of the industrial products company’s stock worth $35,394,000 after purchasing an additional 50,965 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Reliance in a research report on Wednesday, October 8th. Zacks Research lowered Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. dropped their price target on Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Finally, Wells Fargo & Company raised Reliance to a “hold” rating in a research report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $327.80.

Reliance Stock Performance

Shares of NYSE RS opened at $272.10 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.51 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The stock has a 50 day moving average of $286.45 and a 200-day moving average of $295.60. The company has a market capitalization of $14.31 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.29 and a beta of 0.87.

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

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $1.20 per share. The ex-dividend date was Friday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Reliance’s dividend payout ratio is presently 35.04%.

Reliance Company 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.