Handelsbanken Fonder AB decreased its holdings in shares of Reliance, Inc. (NYSE:RS – Free Report) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,741 shares of the industrial products company’s stock after selling 1,320 shares during the period. Handelsbanken Fonder AB’s holdings in Reliance were worth $5,881,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Fulton Bank N.A. raised its holdings in shares of Reliance by 4.9% in the 2nd quarter. Fulton Bank N.A. now owns 3,124 shares of the industrial products company’s stock valued at $1,167,000 after acquiring an additional 147 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Reliance during the second quarter worth about $418,000. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of Reliance by 542.5% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock worth $3,649,000 after purchasing an additional 8,246 shares in the last quarter. Apella Capital LLC bought a new position in shares of Reliance in the second quarter worth approximately $640,000. Finally, Mirador Capital Partners LP purchased a new stake in Reliance in the second quarter valued at approximately $364,000. 79.26% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on RS shares. BMO Capital Markets lifted their target price on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of Reliance from a “strong-buy” rating to a “buy” rating in a report on Saturday. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price objective on Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $378.67.
Reliance Stock Performance
Reliance stock opened at $425.46 on Friday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $21.72 billion, a PE ratio of 24.74, a P/E/G ratio of 1.09 and a beta of 0.96. The firm has a fifty day simple moving average of $398.82 and a two-hundred day simple moving average of $358.01. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $433.02.
Reliance (NYSE:RS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (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 analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the firm earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts expect that Reliance, Inc. will post 22.23 EPS for the current year.
Reliance Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s payout ratio is 29.07%.
Insider Activity at Reliance
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 value of $902,242.00. Following the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. The trade was 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 through this link. Also, SVP William A. Smith II sold 2,353 shares of the company’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 sale, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company’s stock.
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.
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