Reliance, Inc. $RS Shares Acquired by South Dakota Investment Council

South Dakota Investment Council lifted its position in Reliance, Inc. (NYSE:RS) by 103.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 30,535 shares of the industrial products company’s stock after buying an additional 15,494 shares during the quarter. South Dakota Investment Council’s holdings in Reliance were worth $9,280,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Reliance by 1.7% during the 1st quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock valued at $580,000 after acquiring an additional 31 shares during the period. Venturi Wealth Management LLC increased its stake in Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock worth $1,209,000 after purchasing an additional 34 shares during the period. First Citizens Bank & Trust Co. increased its stake in Reliance by 1.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 35 shares during the period. Kathmere Capital Management LLC lifted its position in shares of Reliance by 4.8% during the first quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 38 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Reliance by 27.6% during the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. KeyCorp increased their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. decreased their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Reliance has a consensus rating of “Hold” and an average price target of $378.67.

Reliance Stock Performance

Shares of Reliance stock opened at $403.09 on Thursday. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83. The company has a market cap of $20.58 billion, a PE ratio of 23.44, a P/E/G ratio of 1.19 and a beta of 0.97. 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 business has a 50-day simple moving average of $389.80 and a 200-day simple moving average of $350.01.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating the consensus estimate 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 last year, the company earned $4.43 earnings per share. The firm’s revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities research analysts forecast that Reliance, Inc. will post 19.84 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is presently 29.07%.

Insider Activity

In related news, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.