Dearborn Partners LLC Buys New Stake in Reliance, Inc. $RS

Dearborn Partners LLC purchased a new stake in Reliance, Inc. (NYSE:RS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 24,128 shares of the industrial products company’s stock, valued at approximately $9,014,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RS. Caitlin John LLC purchased a new position in shares of Reliance during the 2nd quarter valued at about $375,000. Public Employees Retirement System of Ohio acquired a new position in shares of Reliance in the 2nd quarter valued at about $6,878,000. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Reliance in the second quarter worth about $228,000. XXEC Inc. purchased a new stake in shares of Reliance in the second quarter worth about $17,329,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Reliance during the second quarter worth about $204,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Trading Up 0.1%

RS stock opened at $391.61 on Friday. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $433.02. 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 firm has a market cap of $20.00 billion, a P/E ratio of 22.77, a PEG ratio of 1.01 and a beta of 0.96. The company’s 50-day simple moving average is $397.42 and its 200-day simple moving average is $362.06.

Reliance (NYSE:RS) last announced its quarterly 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. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.Reliance’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts forecast that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. 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 (DPR) is presently 29.07%.

Wall Street Analyst Weigh In

RS has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research report on Monday. BMO Capital Markets upped their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Finally, KeyCorp lifted their target price on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. One equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $377.50.

Insider Buying and Selling

In other news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction that occurred 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 owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by insiders.

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.