39,417 Shares in Reliance, Inc. $RS Acquired by PDT Partners LLC

Key Points

• PDT Partners LLC acquired 39,417 Reliance shares during the second quarter, valued at approximately $14.7 million and representing about 0.08% of the company. Institutional investors and hedge funds collectively own 79.26% of Reliance.
• Reliance exceeded quarterly expectations, reporting $6.27 EPS versus the $5.47 consensus and $4.63 billion in revenue, up 26.5% year over year. The company guided for third-quarter EPS of $6.40–$6.60.
• Reliance declared a quarterly dividend of $1.25 per share, or $5.00 annualized, yielding about 1.3%. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $377.50 price target.

PDT Partners LLC bought a new position in Reliance, Inc. (NYSE:RS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 39,417 shares of the industrial products company's stock, valued at approximately $14,726,000. Reliance accounts for approximately 0.8% of PDT Partners LLC's portfolio, making the stock its 22nd largest position. PDT Partners LLC owned about 0.08% of Reliance at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in Reliance in the first quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new stake in Reliance in the 2nd quarter worth about $37,000. Brown Brothers Harriman & Co. grew its holdings in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after buying an additional 50 shares during the period. Greenline Wealth Management LLC purchased a new stake in Reliance in the 4th quarter valued at about $32,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Reliance during the 2nd quarter valued at about $41,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Price Performance

RS opened at $384.48 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $433.02. The company has a 50 day moving average of $397.77 and a two-hundred day moving average of $361.45. The company has a market cap of $19.63 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.98 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $4.43 earnings per share. The business's quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance's dividend payout ratio is currently 29.07%.

Insider Buying and Selling at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the firm's stock in a transaction dated 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 directly owned 14,640 shares of the company's stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the business's stock in a transaction dated 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 approximately $8,033,188.74. This represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RS. Wall Street Zen raised shares of Reliance from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Wells Fargo & Company dropped their price target 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. Bank of America downgraded shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target on the stock. in a research note on Thursday, April 30th. KeyCorp lifted 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. Finally, 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 report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $377.50.

Reliance 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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