KLP Kapitalforvaltning AS Grows Stake in Reliance, Inc. $RS

KLP Kapitalforvaltning AS boosted its position in shares of Reliance, Inc. (NYSE:RS) by 21.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,600 shares of the industrial products company’s stock after purchasing an additional 6,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Reliance were worth $12,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RS. Nuveen LLC purchased a new position in shares of Reliance in the 1st quarter valued at $144,089,000. Boston Partners increased its holdings in shares of Reliance by 42.7% in the 1st quarter. Boston Partners now owns 1,021,900 shares of the industrial products company’s stock valued at $295,052,000 after acquiring an additional 305,620 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Reliance in the 1st quarter valued at $55,004,000. American Century Companies Inc. increased its holdings in shares of Reliance by 37.9% in the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company’s stock valued at $170,039,000 after acquiring an additional 161,892 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Reliance by 71.1% in the 1st quarter. Russell Investments Group Ltd. now owns 122,628 shares of the industrial products company’s stock valued at $35,394,000 after acquiring an additional 50,965 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RS has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reliance in a report on Wednesday. Zacks Research cut Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. initiated coverage on Reliance in a research report on Tuesday, September 9th. They issued an “overweight” rating and a $350.00 price objective for the company. Finally, Wells Fargo & Company raised Reliance to a “hold” rating in a research report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Reliance has a consensus rating of “Hold” and a consensus target price of $328.80.

Reliance Stock Performance

Shares of RS opened at $281.19 on Thursday. The stock has a 50-day moving average of $288.19 and a two-hundred day moving average of $296.42. Reliance, Inc. has a one year low of $250.07 and a one year high of $347.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 3.18. The stock has a market cap of $14.79 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.34 and a beta of 0.87.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the firm posted $4.65 EPS. The business’s revenue was up .5% compared to the same quarter last year. Reliance has set its Q3 2025 guidance at 3.600-3.800 EPS. As a group, research analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. Reliance’s payout ratio is 35.04%.

Reliance Company 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.