Public Employees Retirement System of Ohio Sells 1,334 Shares of Reliance, Inc. $RS

Public Employees Retirement System of Ohio decreased its holdings in Reliance, Inc. (NYSE:RS) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,084 shares of the industrial products company’s stock after selling 1,334 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Reliance were worth $6,408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Reliance in the 4th quarter worth $207,691,000. Boston Partners boosted its stake in shares of Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $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 valued at $479,870,000 after buying an additional 343,598 shares during the period. Corient Private Wealth LLC raised its stake in Reliance by 1,019.0% in the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after buying an additional 311,323 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Reliance by 4,419.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock worth $79,210,000 after buying an additional 268,139 shares during the period. Institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RS. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. KeyCorp raised their target price on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. reduced 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. Finally, BMO Capital Markets increased their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $378.67.

Reliance Stock Up 2.5%

NYSE:RS opened at $414.53 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The firm has a market cap of $21.16 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.16 and a beta of 0.97. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $419.83. The firm has a 50-day simple moving average of $388.97 and a two-hundred day simple moving average of $349.34.

Reliance (NYSE:RS) last posted 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. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the company posted $4.43 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts predict that Reliance, Inc. will post 19.84 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s payout ratio is currently 29.07%.

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.