Plato Investment Management Ltd Makes New Investment in Reliance, Inc. $RS

Plato Investment Management Ltd purchased a new stake in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 4,943 shares of the industrial products company’s stock, valued at approximately $1,836,000.

Other institutional investors have also modified their holdings of the company. N.E.W. Advisory Services LLC bought a new position in shares of Reliance during the 2nd quarter worth approximately $37,000. Flputnam Investment Management Co. acquired a new stake in Reliance in the second quarter valued at approximately $579,000. Global Retirement Partners LLC purchased a new position in Reliance in the second quarter worth $423,000. Bank of New York Mellon Corp purchased a new position in Reliance in the second quarter worth $176,913,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Reliance during the second quarter worth $433,000. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 stock was sold at an average price of $414.21, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on 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 in the company, valued at $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by corporate insiders.

Reliance Stock Performance

NYSE RS opened at $427.86 on Tuesday. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.10 and a beta of 0.96. The stock has a 50-day moving average of $399.45 and a 200 day moving average of $358.94. 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 twelve month low of $260.31 and a twelve month high of $433.02.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal 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 dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RS. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Seaport Research Partners upped their target price on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research note on Thursday. BMO Capital Markets raised their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Reliance has an average rating of “Hold” and an average price target 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.