Redwood Investment Management LLC Invests $1.04 Million in Reliance, Inc. $RS

Redwood Investment Management LLC acquired a new stake in Reliance, Inc. (NYSE:RS) in the 1st quarter, HoldingsChannel reports. The fund acquired 3,418 shares of the industrial products company’s stock, valued at approximately $1,039,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ProCore Advisors LLC acquired a new stake in Reliance in the fourth quarter valued at $18,787,000. Arjuna Capital acquired a new position in shares of Reliance during the 4th quarter worth about $1,838,000. PFA Pension Forsikringsaktieselskab bought a new stake in Reliance in the fourth quarter valued at approximately $61,317,000. Forsta AP Fonden bought a new stake in Reliance in the 4th quarter valued at $2,022,000. Finally, Fulcrum Wealth Advisors LLC acquired a new stake in Reliance during the 4th quarter valued at $2,529,000. 79.26% of the stock is owned by institutional investors.

Reliance Trading Up 0.8%

Shares of Reliance stock opened at $409.33 on Tuesday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $419.83. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.14 and a beta of 0.96. The firm’s 50-day moving average price is $392.18 and its two-hundred day moving average price is $352.02.

Reliance (NYSE:RS) last issued its earnings results 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. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the company earned $4.43 EPS. The business’s revenue for the quarter 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, analysts forecast that Reliance, Inc. will post 20.37 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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

Insider Buying and Selling

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction on 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 in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RS shares. Citigroup reissued a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. 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 report on Monday, July 27th. Seaport Research Partners boosted their price objective on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lowered their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $378.67.

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.