Nykredit A S purchased a new stake in Reliance, Inc. (NYSE:RS – Free Report) during the second quarter, Holdings Channel.com reports. The firm purchased 17,457 shares of the industrial products company’s stock, valued at approximately $6,522,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in Reliance in the first quarter worth $30,000. Brown Brothers Harriman & Co. increased its holdings in shares of Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 50 shares during the period. Quarry LP acquired a new position in Reliance in the 3rd quarter worth approximately $32,000. Greenline Wealth Management LLC acquired a new stake in shares of Reliance in the fourth quarter worth $32,000. Finally, Parkside Financial Bank & Trust grew its position in Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.
Insider Activity at Reliance
In other Reliance news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer directly owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by company insiders.
Reliance Price Performance
Reliance (NYSE:RS – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, sell-side analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current year.
Reliance Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Reliance’s dividend payout ratio (DPR) is currently 29.07%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on RS. BMO Capital Markets raised their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. KeyCorp boosted their price objective on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. JPMorgan Chase & Co. cut their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and a consensus price target of $377.50.
Reliance 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.
Featured Articles
- Five stocks we like better than Reliance
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance, Inc. (NYSE:RS – Free Report).
Receive News & Ratings for Reliance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance and related companies with MarketBeat.com's FREE daily email newsletter.
