Caisse de depot et placement du Quebec acquired a new stake in shares of Reliance, Inc. (NYSE:RS – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 119,576 shares of the industrial products company’s stock, valued at approximately $44,674,000. Caisse de depot et placement du Quebec owned approximately 0.23% of Reliance at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of RS. Arjuna Capital acquired a new stake in Reliance in the fourth quarter valued at approximately $1,838,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Reliance during the fourth quarter worth $61,317,000. Forsta AP Fonden acquired a new position in shares of Reliance during the fourth quarter worth $2,022,000. Fulcrum Wealth Advisors LLC bought a new position in shares of Reliance in the 4th quarter valued at $2,529,000. Finally, Versor Investments LP bought a new position in shares of Reliance in the 4th quarter valued at $399,000. Institutional investors and hedge funds own 79.26% of the company’s stock.
Insider Buying and Selling
In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by insiders.
Reliance Stock Up 0.1%
Reliance (NYSE:RS – Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.
Reliance Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s payout ratio is 29.07%.
Analysts Set New Price Targets
RS has been the topic of a number of research reports. Wells Fargo & Company reduced their price objective on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. BMO Capital Markets lifted 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. Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lowered their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $377.50.
Get Our Latest Analysis on Reliance
About Reliance
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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