Short Interest in Reliance, Inc. (NYSE:RS) Grows By 29.7%

Reliance, Inc. (NYSE:RS) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 1,110,000 shares, anincreaseof29.7% from the July 15th total of 856,100 shares. Approximately2.1% of the company’s shares are sold short. Based on an average daily volume of 384,300 shares, the days-to-cover ratio is currently 2.9 days. Based on an average daily volume of 384,300 shares, the days-to-cover ratio is currently 2.9 days. Approximately2.1% of the company’s shares are sold short.

Reliance Stock Performance

Shares of NYSE RS opened at $285.6350 on Thursday. The firm’s 50-day moving average price is $308.80 and its two-hundred day moving average price is $296.27. The stock has a market capitalization of $15.02 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.37 and a beta of 0.89. The company has a quick ratio of 1.51, a current ratio of 3.18 and a debt-to-equity ratio of 0.14. Reliance has a 52-week low of $250.07 and a 52-week high of $347.43.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.29). Reliance had a return on equity of 10.48% and a net margin of 5.39%.The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm posted $4.65 EPS. The company’s quarterly 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, sell-side analysts forecast that Reliance will post 16.98 earnings per share for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 15th. Reliance’s dividend payout ratio (DPR) is 35.04%.

Wall Street Analyst Weigh In

RS has been the topic of a number of recent research reports. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company raised Reliance to a “hold” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $323.50.

Institutional Trading of Reliance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RS. Boston Partners increased its stake in Reliance by 72.6% in the second quarter. Boston Partners now owns 1,763,317 shares of the industrial products company’s stock valued at $552,461,000 after purchasing an additional 741,417 shares in the last quarter. Norges Bank bought a new stake in shares of Reliance during the second quarter worth $207,741,000. Nuveen LLC bought a new stake in shares of Reliance during the first quarter worth $144,089,000. Price T Rowe Associates Inc. MD increased its position in shares of Reliance by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,709,737 shares of the industrial products company’s stock worth $998,886,000 after acquiring an additional 319,576 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Reliance by 33,792.2% during the first quarter. GAMMA Investing LLC now owns 278,933 shares of the industrial products company’s stock worth $80,542,000 after acquiring an additional 278,110 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

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.