Skandinaviska Enskilda Banken AB publ Sells 4,108 Shares of Reliance, Inc. $RS

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Reliance, Inc. (NYSE:RS) by 12.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,688 shares of the industrial products company’s stock after selling 4,108 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.05% of Reliance worth $9,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RS. Focus Partners Wealth grew its holdings in shares of Reliance by 387.5% during the first quarter. Focus Partners Wealth now owns 7,405 shares of the industrial products company’s stock valued at $2,138,000 after buying an additional 5,886 shares during the last quarter. Plato Investment Management Ltd lifted its position in Reliance by 478.2% during the 1st quarter. Plato Investment Management Ltd now owns 5,262 shares of the industrial products company’s stock worth $1,536,000 after acquiring an additional 4,352 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Reliance by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company’s stock valued at $133,196,000 after purchasing an additional 46,377 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Reliance in the second quarter valued at about $72,373,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Reliance by 46.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,266 shares of the industrial products company’s stock worth $16,435,000 after purchasing an additional 15,975 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

Shares of NYSE RS opened at $279.32 on Friday. The company has a market capitalization of $14.60 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. The company’s fifty day moving average price is $277.03 and its 200 day moving average price is $294.17. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43.

Reliance (NYSE:RS) last issued its quarterly earnings data 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). Reliance had a return on equity of 10.37% and a net margin of 5.23%.The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the company posted $3.64 EPS. The company’s revenue was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, research analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be given 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 dividend payout ratio is currently 35.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RS shares. JPMorgan Chase & Co. dropped their target price on Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. BMO Capital Markets cut their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a research report on Tuesday. Zacks Research lowered shares of Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $323.00.

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.