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

Provenance Wealth Advisors LLC purchased a new position in Reliance, Inc. (NYSE:RS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,217 shares of the industrial products company’s stock, valued at approximately $468,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Reliance by 542.5% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock valued at $3,649,000 after buying an additional 8,246 shares during the period. Cornerstone Capital Inc. acquired a new position in shares of Reliance during the 2nd quarter worth about $23,725,000. The Manufacturers Life Insurance Company acquired a new position in shares of Reliance during the 2nd quarter worth about $8,808,000. Bank of America Corp DE grew its position in shares of Reliance by 4.9% during the 1st quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock worth $79,989,000 after buying an additional 12,282 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of Reliance by 189.2% during the 2nd quarter. NewEdge Advisors LLC now owns 6,423 shares of the industrial products company’s stock worth $2,399,000 after buying an additional 4,202 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Performance

Shares of Reliance stock opened at $413.42 on Friday. The company has a market capitalization of $21.06 billion, a PE ratio of 19.27, a PEG ratio of 0.91 and a beta of 0.95. Reliance, Inc. has a 12 month low of $263.12 and a 12 month high of $454.93. The company has a current ratio of 4.12, a quick ratio of 2.22 and a debt-to-equity ratio of 0.21. 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 earnings results on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.83 by $1.19. Reliance had a return on equity of 15.31% and a net margin of 6.38%. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm earned $3.64 earnings per share. The company’s revenue was up 42.8% on a year-over-year basis. On average, research analysts predict that Reliance, Inc. will post 25.68 EPS for the current year.

Reliance Dividend Announcement

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

Analysts Set New Price Targets

RS has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. KeyCorp lifted their price objective on shares of Reliance from $421.00 to $437.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Citigroup restated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Barclays upped their target price on shares of Reliance from $420.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued 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 stock currently has a consensus rating of “Hold” and a consensus price target of $400.29.

More Reliance News

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

Insider Buying and Selling at Reliance

In other news, COO Stephen Koch sold 8,334 shares of Reliance stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $430.87, for a total transaction of $3,590,870.58. Following the transaction, the chief operating officer owned 8,209 shares in the company, valued at $3,537,011.83. The trade was a 50.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Reliance 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.