264,308 Shares in Reliance, Inc. $RS Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 264,308 Reliance shares worth approximately $98.7 million during the second quarter, giving it a 0.52% stake. Institutional investors collectively own 79.26% of the company.
• Reliance reported quarterly EPS of $6.27, beating estimates by $0.80, while revenue rose 26.5% year over year to $4.63 billion. The company guided for third-quarter EPS of $6.40–$6.60.
• RS shares opened at $390.08, down 2.6%, while analysts maintain a consensus “Hold” rating with a $379.83 price target. Reliance also pays a quarterly dividend of $1.25 per share, equating to a 1.3% yield.

Bank of America Corp DE bought a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 264,308 shares of the industrial products company's stock, valued at approximately $98,746,000. Bank of America Corp DE owned 0.52% of Reliance at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Forsta AP Fonden acquired a new position in Reliance in the fourth quarter valued at about $2,022,000. PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Reliance by 542.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company's stock worth $3,649,000 after buying an additional 8,246 shares during the period. Cornerstone Capital Inc. bought a new stake in shares of Reliance in the 2nd quarter valued at about $23,725,000. Life Cycle Investment Partners Ltd acquired a new stake in shares of Reliance in the 4th quarter valued at approximately $24,154,000. Finally, Intech Investment Management LLC boosted its stake in Reliance by 71.7% during the 4th quarter. Intech Investment Management LLC now owns 42,065 shares of the industrial products company's stock worth $12,151,000 after acquiring an additional 17,562 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insiders Place Their Bets

In other news, SVP William Smith, II sold 2,353 shares of the 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 sale, the senior vice president directly owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm's stock in a transaction 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 transaction, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by company insiders.

Reliance Trading Down 2.6%

RS stock opened at $390.08 on Friday. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $433.02. The company has a market capitalization of $19.92 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96. The company's 50-day simple moving average is $400.56 and its 200 day simple moving average is $368.52. 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 (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the firm posted $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. As a group, sell-side analysts anticipate that Reliance, Inc. will post 22.53 earnings per share for the current year.

Reliance Announces Dividend

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

Wall Street Analysts Forecast Growth

RS has been the subject of several recent analyst reports. Citigroup reaffirmed a "neutral" rating on shares of Reliance in a research note on Wednesday, July 29th. KeyCorp boosted their price target on shares of Reliance from $378.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Wells Fargo & Company lowered their price objective on shares of Reliance from $398.00 to $391.00 and set an "equal weight" rating for the company in a research report on Monday, August 24th. BMO Capital Markets raised their price objective on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Finally, Wall Street Zen lowered Reliance from a "strong-buy" rating to a "buy" rating in a report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned 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 currently has a consensus rating of "Hold" and a consensus price target of $379.83.

Reliance Profile

Reliance, Inc NYSE: RS is a diversified metals service center company that purchases, processes and distributes metals and related industrial products. Its product portfolio includes carbon steel, aluminum, stainless steel, copper, brass, titanium and other specialty metals.

The company provides value-added processing services such as cutting, leveling, sawing, machining, forming and preparing materials to customer specifications. These services help manufacturers and other commercial users reduce material-handling requirements and obtain metals in ready-to-use forms.

Founded in 1939 and headquartered in Los Angeles, California, Reliance serves customers through a network of operations primarily across North America, with additional international capabilities.

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