Empowered Funds LLC reduced its stake in shares of Reliance, Inc. (NYSE:RS – Free Report) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,596 shares of the industrial products company’s stock after selling 1,276 shares during the quarter. Empowered Funds LLC’s holdings in Reliance were worth $2,309,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RS. Norges Bank acquired a new position in Reliance in the fourth quarter valued at $207,691,000. Boston Partners increased its position in shares of Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after purchasing an additional 343,598 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Reliance by 1,019.0% in the 4th quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock valued at $98,758,000 after purchasing an additional 311,323 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Reliance by 4,419.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock valued at $79,210,000 after purchasing an additional 268,139 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Reliance
In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.40% of the company’s stock.
Reliance Trading Up 1.5%
Reliance (NYSE:RS – Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance, Inc. will post 21.33 EPS for the current year.
Reliance Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.
Analysts Set New Price Targets
A number of analysts recently issued reports on RS shares. JPMorgan Chase & Co. dropped their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Seaport Research Partners lifted their price target on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $378.67.
Get Our Latest Analysis on Reliance
Key Headlines Impacting Reliance
Here are the key news stories impacting Reliance this week:
- Positive Sentiment: Zacks upgraded Reliance to “Strong Buy” from “Hold,” adding momentum to the recent rally and signaling confidence in the company’s earnings outlook. Zacks.com
- Positive Sentiment: Rising earnings estimates are supporting the stock. Zacks said recent estimate revisions indicate Reliance’s shares could continue moving higher in the near term. Earnings Estimates Moving Higher for Reliance
- Positive Sentiment: Reliance was added to Zacks’ Rank #1 “Strong Buy” lists, including its income-stock list, reinforcing the bullish analyst-driven narrative. New Strong Buy Stocks for August 4th
- Positive Sentiment: The company’s latest quarter exceeded expectations, with adjusted EPS of $6.27 versus a $5.47 consensus estimate and revenue of $4.63 billion versus $4.26 billion expected. Revenue increased 26.5% year over year, while third-quarter EPS guidance of $6.40–$6.60 remains constructive.
- Neutral Sentiment: Reliance announced a quarterly dividend of $1.25 per share, equivalent to a $5.00 annual payout and an approximately 1.2% yield. The dividend supports income appeal but is unlikely to be a major short-term catalyst.
- Negative Sentiment: CFO Arthur Ajemyan sold 2,200 shares for approximately $902,242, reducing his holdings by 13.06%. The sale is a modest negative insider signal, although he continues to own 14,640 shares. Reliance CFO Insider Sale
- Negative Sentiment: Valuation and analyst caution could limit further gains: Reliance trades above the reported average analyst target of $378.67, while the consensus rating remains “Hold,” including one “Sell” rating.
Reliance Company Profile
Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.
Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.
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