17,368 Shares in Reliance, Inc. $RS Acquired by Man Group plc

Key Points

• Man Group plc acquired 17,368 Reliance shares in the second quarter, worth approximately $6.49 million. Institutional investors collectively own 79.26% of the company.
• Reliance reported strong quarterly results, with EPS of $6.27 versus the $5.47 analyst consensus and revenue of $4.63 billion, up 26.5% year over year. The company guided to third-quarter EPS of $6.40–$6.60.
• Shares opened at $387.57, while analysts maintained a consensus “Hold” rating with an average price target of $377.50. The company also pays a quarterly dividend of $1.25 per share, or $5.00 annualized.

Man Group plc bought a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,368 shares of the industrial products company's stock, valued at approximately $6,489,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company's stock valued at $580,000 after acquiring an additional 31 shares during the period. Venturi Wealth Management LLC boosted its position in Reliance by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company's stock worth $1,209,000 after acquiring an additional 34 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Reliance by 1.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company's stock worth $588,000 after purchasing an additional 35 shares in the last quarter. Kathmere Capital Management LLC grew its stake in shares of Reliance by 4.8% in the first quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company's stock worth $250,000 after purchasing an additional 38 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Reliance by 27.6% during the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 40 shares during the period. Institutional investors own 79.26% of the company's stock.

Insider Activity

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares of the company's stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. 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 company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer directly owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company's stock.

Reliance Price Performance

Shares of RS opened at $387.57 on Friday. The firm has a market cap of $19.79 billion, a PE ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96. The firm's 50 day moving average price is $397.24 and its 200 day moving average price is $362.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $433.02.

Reliance (NYSE:RS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter last year, the company posted $4.43 EPS. The firm'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. As a group, research analysts expect that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating on shares of Reliance in a research note on Wednesday, July 29th. Zacks Research raised Reliance from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. reduced their price objective on Reliance from $378.00 to $376.00 and set a "neutral" rating for the company in a research note on Wednesday, July 15th. KeyCorp upped their target price on Reliance from $378.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Finally, Wells Fargo & Company decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $377.50.

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.

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