Denali Advisors LLC Makes New Investment in Reliance, Inc. $RS

Denali Advisors LLC bought a new stake in shares of Reliance, Inc. (NYSE:RS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,704 shares of the industrial products company’s stock, valued at approximately $637,000.

Several other hedge funds have also made changes to their positions in RS. BlackRock Inc. purchased a new position in shares of Reliance during the second quarter valued at $2,171,081,000. Norges Bank purchased a new stake in Reliance in the fourth quarter worth about $207,691,000. Boston Partners grew its holdings in Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Reliance during the 2nd quarter worth about $176,913,000. Finally, Wellington Management Group LLP increased its position in Reliance by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after purchasing an additional 343,598 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the sale, the senior vice president directly owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.40% of the company’s stock.

Reliance Price Performance

NYSE RS opened at $381.95 on Friday. The firm’s fifty day simple moving average is $399.32 and its two-hundred day simple moving average is $360.46. The company has a current ratio of 4.30, a quick ratio of 2.27 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 $433.02. The firm has a market capitalization of $19.50 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.03 and a beta of 0.96.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the firm posted $4.43 earnings per share. The business’s quarterly revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts forecast that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s dividend payout ratio is currently 29.07%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets upped their price target 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. JPMorgan Chase & Co. cut their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. 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 given 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.