Provenance Wealth Advisors LLC Makes New Investment in Reliance, Inc. $RS

Provenance Wealth Advisors LLC acquired a new stake in Reliance, Inc. (NYSE:RS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,217 shares of the industrial products company’s stock, valued at approximately $468,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Reliance by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 10,608 shares of the industrial products company’s stock valued at $4,081,000 after buying an additional 58 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Reliance by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 116,337 shares of the industrial products company’s stock worth $44,761,000 after acquiring an additional 4,142 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Reliance during the 3rd quarter worth about $125,000. Vise Technologies Inc. grew its holdings in Reliance by 36.5% during the 3rd quarter. Vise Technologies Inc. now owns 4,832 shares of the industrial products company’s stock worth $1,859,000 after acquiring an additional 1,293 shares during the last quarter. Finally, MGO One Seven LLC increased its position in Reliance by 34.5% in the 3rd quarter. MGO One Seven LLC now owns 4,765 shares of the industrial products company’s stock valued at $1,833,000 after acquiring an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In other news, COO Stephen Koch sold 8,334 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $430.87, for a total value of $3,590,870.58. Following the transaction, the chief operating officer owned 8,209 shares of the company’s stock, valued at approximately $3,537,011.83. This trade represents a 50.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Reliance from $400.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. KeyCorp upped their target price on shares of Reliance from $421.00 to $437.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Citigroup reissued a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Reliance from $391.00 to $420.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $400.29.

Reliance Trading Down 6.5%

Shares of RS opened at $413.42 on Friday. The company has a quick ratio of 2.22, a current ratio of 4.12 and a debt-to-equity ratio of 0.21. Reliance, Inc. has a 12-month low of $263.12 and a 12-month high of $454.93. The firm has a market capitalization of $21.06 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.91 and a beta of 0.95. The stock’s fifty day simple moving average is $404.39 and its 200-day simple moving average is $370.58.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.83 by $1.19. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Reliance had a return on equity of 15.31% and a net margin of 6.38%. The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.64 earnings per share. As a group, research analysts predict that Reliance, Inc. will post 25.68 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 20th. Reliance’s dividend payout ratio (DPR) is 23.31%.

Key Stories Impacting Reliance

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Zacks Research raised several future earnings forecasts, including FY2028 EPS to $19.13 from $18.09, and kept its “Strong-Buy” rating. Estimates also increased for Q2 and Q3 2027 and Q1 and Q3 2028, suggesting improved expectations across much of the forecast period. Reliance analyst coverage
• Positive Sentiment: Recent results provide additional support: Reliance reported quarterly EPS of $8.02, above the $6.83 consensus, while revenue also topped estimates and rose 42.8% year over year.
• Neutral Sentiment: Reports about Reliance Jio’s ₹15 unlimited 5G data pack concern Jio and its parent, Reliance Industries—not the U.S.-listed Reliance, Inc. (RS)—so they are not a direct business catalyst for RS. Jio data-pack article
• Negative Sentiment: Zacks lowered its Q2 2028 EPS estimate to $4.45 from $4.66, a counterpoint to its other upward revisions. Reliance analyst coverage

About Reliance

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.