68,354 Shares in Reliance, Inc. $RS Purchased by Danske Bank A S

Key Points

• Danske Bank acquired 68,354 Reliance shares worth approximately $25.5 million in the second quarter, joining other institutional investors that collectively own 79.26% of the company.
• Reliance exceeded quarterly expectations, reporting $6.27 in EPS on $4.63 billion in revenue, with revenue up 26.5% year over year. Analysts’ consensus rating remains “Hold,” with an average price target of $378.67.
• Company insiders sold shares valued at roughly $1.88 million, while Reliance declared a quarterly dividend of $1.25 per share, equivalent to a 1.3% annual yield.

Danske Bank A S bought a new position in Reliance, Inc. (NYSE:RS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 68,354 shares of the industrial products company's stock, valued at approximately $25,537,000. Danske Bank A S owned about 0.13% of Reliance at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Costello Asset Management INC acquired a new position in shares of Reliance during the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. increased its position 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 acquiring an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new stake in Reliance in the 4th quarter valued at approximately $32,000. Quarry LP bought a new stake in Reliance during the 3rd quarter valued at $32,000. Finally, Parkside Financial Bank & Trust raised its stake in Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Buying and Selling at Reliance

In other 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RS shares. JPMorgan Chase & Co. lowered their price target on Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Reliance in a report on Thursday, August 13th. Bank of America lowered shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 target price for the company. in a research report on Thursday, April 30th. Seaport Research Partners raised their target price on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Citigroup reissued a "neutral" rating on shares of Reliance in a research note on Wednesday, July 29th. One research 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $378.67.

Reliance Stock Down 5.4%

NYSE RS opened at $398.62 on Thursday. 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's 50 day simple moving average is $399.89 and its 200 day simple moving average is $360.09. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The company has a market capitalization of $20.35 billion, a P/E ratio of 23.18, a PEG ratio of 1.08 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last released its 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. The business had revenue of $4.63 billion during 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%. The business's quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

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

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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