Van ECK Associates Corp Sells 1,745 Shares of Reliance, Inc. $RS

Van ECK Associates Corp reduced its stake in shares of Reliance, Inc. (NYSE:RS) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,285 shares of the industrial products company’s stock after selling 1,745 shares during the period. Van ECK Associates Corp’s holdings in Reliance were worth $8,699,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Arjuna Capital bought a new stake in Reliance in the 4th quarter valued at $1,838,000. Forsta AP Fonden bought a new position in Reliance during the 4th quarter worth about $2,022,000. Fulcrum Wealth Advisors LLC bought a new position in Reliance during the 4th quarter worth about $2,529,000. Versor Investments LP acquired a new stake in shares of Reliance in the 4th quarter valued at about $399,000. Finally, Bank of America Corp DE raised its stake in shares of Reliance by 4.9% in the 1st quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock valued at $79,989,000 after purchasing an additional 12,282 shares during the period. Institutional investors own 79.26% of the company’s stock.

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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on RS. 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 upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. KeyCorp upped 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Finally, Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, Reliance presently has an average rating of “Hold” and an average target price of $377.50.

Reliance Stock Performance

Shares of RS stock opened at $390.26 on Wednesday. The stock has a market cap of $19.93 billion, a P/E ratio of 22.69, a P/E/G ratio of 0.99 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The company has a fifty day moving average price of $396.69 and a two-hundred day moving average price of $362.73. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion for 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%. Reliance’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period 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 predict that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

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