25,000 Shares in Reliance, Inc. $RS Purchased by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 25,000 Reliance shares worth approximately $7.6 million, contributing to the 79.26% of shares held by institutional investors.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and an average price target of $378.67; Reliance shares opened at $403.09 after recently trading down 2.7%.
• Reliance exceeded quarterly expectations with $6.27 in EPS and $4.63 billion in revenue, while issuing third-quarter EPS guidance of $6.40–$6.60. The company also declared a $1.25 quarterly dividend, yielding 1.2% annually.

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,000 shares of the industrial products company's stock, valued at approximately $7,598,000.

Other large investors have also bought and sold shares of the company. ProCore Advisors LLC purchased a new position in Reliance in the 4th quarter worth approximately $18,787,000. Arjuna Capital purchased a new stake in Reliance during the 4th quarter valued at $1,838,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Reliance in the 4th quarter worth $61,317,000. Forsta AP Fonden bought a new stake in shares of Reliance in the 4th quarter worth $2,022,000. Finally, Fulcrum Wealth Advisors LLC purchased a new position in shares of Reliance in the fourth quarter worth $2,529,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RS shares. The Goldman Sachs Group started coverage on Reliance in a report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price target on the stock. 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 note on Thursday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a report on Wednesday, July 15th. BMO Capital Markets lifted their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Seaport Research Partners increased their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $378.67.

Reliance Trading Down 2.7%

Shares of NYSE:RS opened at $403.09 on Thursday. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The stock's 50-day simple moving average is $389.80 and its two-hundred day simple moving average is $350.01. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $419.83.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the firm earned $4.43 EPS. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts expect that Reliance, Inc. will post 19.84 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 issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance's dividend payout ratio is currently 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 owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.40% of the company's stock.

Reliance Company Profile

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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