Skandinaviska Enskilda Banken AB publ Cuts Stake in Reliance, Inc. $RS

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 12.5% in the 2nd quarter, according to the company in its most recent 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’s holdings in Reliance were worth $9,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RS. Focus Partners Wealth raised 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 acquiring an additional 5,886 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Reliance by 478.2% during the first quarter. Plato Investment Management Ltd now owns 5,262 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 4,352 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Reliance by 11.2% in 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 purchased a new position in Reliance in the 2nd quarter valued at $72,373,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Reliance by 46.6% during the 2nd 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 currently owned by institutional investors and hedge funds.

Reliance Stock Down 0.5%

Shares of NYSE RS opened at $279.32 on Friday. The company has a market capitalization of $14.60 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08. The company has a 50 day simple moving average of $277.03 and a 200-day simple moving average of $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 the consensus estimate of $3.68 by ($0.04). The business had revenue of $3.65 billion during 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 company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, equities research analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

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

Wall Street Analysts Forecast Growth

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