Evolve Private Wealth LLC Invests $2.44 Million in Reliance, Inc. $RS

Evolve Private Wealth LLC purchased a new stake in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,529 shares of the industrial products company’s stock, valued at approximately $2,439,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Costello Asset Management INC acquired a new position in Reliance during the 1st quarter worth $30,000. Brown Brothers Harriman & Co. increased its stake in shares of Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after buying an additional 50 shares during the period. Greenline Wealth Management LLC bought a new stake in shares of Reliance during the fourth quarter worth $32,000. Quarry LP bought a new stake in shares of Reliance during the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on RS shares. Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Wells Fargo & Company upped their target price on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. JPMorgan Chase & Co. dropped their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Finally, KeyCorp increased their price objective 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 research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $378.67.

Reliance Price Performance

Shares of RS opened at $387.58 on Friday. The stock has a market cap of $19.79 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $433.02. The stock’s 50-day moving average price is $398.80 and its two-hundred day moving average price is $360.65. 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 (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating 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 company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the business posted $4.43 EPS. Reliance’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s dividend payout ratio (DPR) is 29.07%.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the transaction, the senior vice president directly owned 19,394 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade 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.

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.