3,115 Shares in Reliance, Inc. $RS Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC purchased a new stake in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, Holdings Channel reports. The fund purchased 3,115 shares of the industrial products company’s stock, valued at approximately $1,164,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Costello Asset Management INC acquired a new stake in shares of Reliance in the 1st quarter valued at approximately $30,000. Brown Brothers Harriman & Co. increased its holdings in Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after buying an additional 50 shares during the last quarter. Greenline Wealth Management LLC acquired a new position in Reliance during the fourth quarter worth $32,000. Quarry LP acquired a new position in Reliance during the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust raised its position in Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 55 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Insider Transactions at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the business’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 sale, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Citigroup reiterated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Finally, KeyCorp boosted their price target on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $377.50.

Reliance Stock Performance

Shares of NYSE RS opened at $390.63 on Thursday. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 0.99 and a beta of 0.96. The stock’s fifty day moving average price is $397.51 and its two-hundred day moving average price is $361.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business’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 firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts forecast that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s payout ratio is currently 29.07%.

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.