Summit Investment Advisors Inc. Has $4.95 Million Stake in Reliance, Inc. $RS

Summit Investment Advisors Inc. reduced its stake in shares of Reliance, Inc. (NYSE:RS) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,148 shares of the industrial products company’s stock after selling 192 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Reliance were worth $4,951,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of 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 buying an additional 4,677 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Reliance by 6.1% during the first quarter. Crossmark Global Holdings Inc. now owns 2,776 shares of the industrial products company’s stock valued at $802,000 after acquiring an additional 159 shares during the period. M&T Bank Corp boosted its holdings in Reliance by 0.9% in the first quarter. M&T Bank Corp now owns 5,146 shares of the industrial products company’s stock valued at $1,486,000 after acquiring an additional 48 shares during the last quarter. Telos Capital Management Inc. bought a new position in Reliance in the first quarter valued at about $260,000. Finally, State of Michigan Retirement System increased its position in Reliance by 1.5% in the first quarter. State of Michigan Retirement System now owns 13,397 shares of the industrial products company’s stock worth $3,868,000 after purchasing an additional 200 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

RS opened at $275.36 on Friday. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $347.43. The company has a fifty day simple moving average of $282.80 and a 200 day simple moving average of $296.10. The stock has a market cap of $14.40 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.46 and a beta of 0.90.

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 the consensus estimate of $3.68 by ($0.04). Reliance had a return on equity of 10.37% and a net margin of 5.23%.The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm posted $3.64 earnings per share. The business’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 expect that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 21st. Reliance’s dividend payout ratio is presently 35.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RS. Zacks Research lowered shares of Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on shares of 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 dropped their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. cut their price target on Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $322.40.

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.