Cornerstone Investment Partners LLC Makes New Investment in Reliance, Inc. $RS

Cornerstone Investment Partners LLC bought a new stake in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, Holdings Channel reports. The firm bought 934 shares of the industrial products company’s stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RS. Envestnet Asset Management Inc. grew its position in Reliance by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,579 shares of the industrial products company’s stock valued at $22,690,000 after acquiring an additional 4,677 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Reliance by 8.2% during the first quarter. TD Private Client Wealth LLC now owns 3,728 shares of the industrial products company’s stock valued at $1,076,000 after purchasing an additional 284 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Reliance by 6.1% in the first quarter. Crossmark Global Holdings Inc. now owns 2,776 shares of the industrial products company’s stock worth $802,000 after purchasing an additional 159 shares during the last quarter. M&T Bank Corp increased its stake in Reliance by 0.9% in the 1st quarter. M&T Bank Corp now owns 5,146 shares of the industrial products company’s stock worth $1,486,000 after buying an additional 48 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Reliance by 0.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 77,155 shares of the industrial products company’s stock worth $21,945,000 after buying an additional 254 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RS shares. 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on Reliance from $296.00 to $284.00 and set an “equal weight” rating on the stock in a research note on Friday, October 24th. BMO Capital Markets decreased their target price on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Finally, Zacks Research cut Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $322.40.

Reliance Stock Performance

Shares of RS stock opened at $274.73 on Friday. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.46 and a beta of 0.90. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $283.21 and its 200 day moving average is $296.07.

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

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a $1.20 dividend. 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 currently 35.09%.

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.