Reliance, Inc. $RS Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC reduced its holdings in shares of Reliance, Inc. (NYSE:RS) by 70.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 830 shares of the industrial products company’s stock after selling 1,939 shares during the period. Verdence Capital Advisors LLC’s holdings in Reliance were worth $319,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Costello Asset Management INC acquired a new stake in Reliance in the first quarter valued at $30,000. N.E.W. Advisory Services LLC bought a new position in Reliance during the 2nd quarter valued at $37,000. Osterweis Capital Management Inc. bought a new position in Reliance during the 2nd quarter valued at $41,000. Reyes Financial Architecture Inc. acquired a new position in Reliance during the 3rd quarter worth $43,000. Finally, Compass Financial Management LLC acquired a new position in Reliance during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. increased their price target on shares of Reliance from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Barclays lifted their price target on Reliance from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price objective on Reliance from $391.00 to $420.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $400.29.

Key Stories Impacting Reliance

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Quarterly earnings beat expectations: Reliance’s third-quarter earnings surged 120.3% year over year, supported by higher steel prices, record shipments and contributions from border-wall projects. The strong sales and profit growth reinforces the company’s favorable earnings momentum. Reliance third-quarter earnings report
• Positive Sentiment: Analyst sees additional upside: A JPMorgan analyst reportedly expects Reliance stock to rise, providing a supportive signal for investor sentiment. However, the broader analyst consensus remains cautious, with several firms maintaining neutral or equal-weight ratings. JPMorgan Reliance stock outlook
• Neutral Sentiment: Strong fundamentals are already reflected in the valuation: Reliance recently reported quarterly EPS of $8.02 versus a $6.83 consensus estimate, while revenue rose 42.8% year over year to $5.21 billion. The results are favorable, but the stock is trading near its 52-week high, increasing the risk of profit-taking and limiting the impact of additional good news.
• Negative Sentiment: COO sells a substantial stake: COO Stephen Koch sold 8,334 shares for approximately $3.59 million, reducing his ownership by about 50%. The sale may weigh on sentiment because it occurred near recent highs, although insider transactions can be routine and do not necessarily indicate deteriorating business conditions. Reliance COO insider sale
• Neutral Sentiment: Indian Reliance headlines are unrelated: Reports about Reliance Industries, Jio Platforms, and Reliance Retail—including strong consolidated profit growth and Jio’s listing—concern the separate Indian conglomerate, not Reliance, Inc. (NYSE: RS). They should not be treated as direct catalysts for RS.

Insider Buying and Selling at Reliance

In related news, COO Stephen Koch sold 8,334 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $430.87, for a total transaction of $3,590,870.58. Following the completion of the sale, the chief operating officer owned 8,209 shares of the company’s stock, valued at $3,537,011.83. This represents a 50.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Reliance Stock Performance

Shares of RS opened at $437.28 on Friday. The business’s fifty day moving average price is $400.34 and its 200 day moving average price is $368.21. Reliance, Inc. has a 12-month low of $263.12 and a 12-month high of $442.94. The stock has a market capitalization of $22.28 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.12 and a quick ratio of 2.22.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.83 by $1.19. Reliance had a net margin of 6.38% and a return on equity of 15.31%. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $3.64 earnings per share. The firm’s revenue was up 42.8% compared to the same quarter last year. Equities research analysts forecast that Reliance, Inc. will post 24.99 EPS for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 20th. Reliance’s dividend payout ratio is currently 23.31%.

Reliance Company Profile

Reliance, Inc (NYSE: RS) is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.