27,053 Shares in Reliance, Inc. $RS Acquired by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in shares of Reliance, Inc. (NYSE:RS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,053 shares of the industrial products company’s stock, valued at approximately $10,107,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RS. XXEC Inc. bought a new stake in Reliance during the second quarter worth approximately $127,493,000. BlackRock Inc. purchased a new stake in Reliance in the 2nd quarter worth approximately $2,171,081,000. Norges Bank acquired a new stake in shares of Reliance during the 4th quarter valued at about $207,691,000. Boston Partners boosted its holdings in Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Reliance in the second quarter valued at about $176,913,000. 79.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated 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. Company insiders own 0.40% of the company’s stock.

Reliance Stock Performance

Shares of NYSE RS opened at $387.57 on Friday. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $397.24 and a 200 day simple moving average of $362.24. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (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 firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm posted $4.43 EPS. 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. Sell-side analysts expect that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s payout ratio is 29.07%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RS shares. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Wells Fargo & Company reduced their price objective on Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research report on Monday, August 24th. 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 note on Monday, July 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Reliance currently has an average rating of “Hold” and an average price target of $377.50.

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.