8,397 Shares in Reliance, Inc. $RS Acquired by Two Sigma Securities LLC

Key Points

• Two Sigma Securities acquired 8,397 shares of Reliance, valued at approximately $3.14 million. Institutional investors and hedge funds collectively own 79.26% of the company.
• Analysts have a mixed outlook, with Reliance receiving a consensus “Hold” rating and an average price target of $377.50. Recent targets range from $376 to $418.
• Reliance reported stronger-than-expected quarterly results, earning $6.27 per share on $4.63 billion in revenue, while revenue rose 26.5% year over year. The company also declared a quarterly dividend of $1.25 per share, representing a 1.3% yield.

Two Sigma Securities LLC purchased a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 8,397 shares of the industrial products company's stock, valued at approximately $3,137,000.

Other hedge funds also recently modified their holdings of the company. Costello Asset Management INC bought a new position in Reliance during the first quarter valued at about $30,000. N.E.W. Advisory Services LLC bought a new stake in Reliance in the second quarter worth about $37,000. Brown Brothers Harriman & Co. lifted 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 acquiring an additional 50 shares during the last quarter. Greenline Wealth Management LLC acquired a new stake in Reliance in the 4th quarter valued at about $32,000. Finally, Osterweis Capital Management Inc. bought 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.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Reliance from a "strong-buy" rating to a "buy" rating in a research report on Monday. JPMorgan Chase & Co. cut their price objective on Reliance from $378.00 to $376.00 and set a "neutral" rating for the company in a research report on Wednesday, July 15th. KeyCorp lifted their target price on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. BMO Capital Markets boosted their target price on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. 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 given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Reliance presently has an average rating of "Hold" and a consensus price target of $377.50.

Insiders Place Their Bets

In related news, SVP William A. 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 completion of the sale, the senior vice president directly owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction 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 sale, the chief financial officer directly owned 14,640 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.40% of the company's stock.

Reliance Stock Performance

Shares of Reliance stock opened at $387.57 on Monday. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The stock has a market cap of $19.79 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. The business has a fifty day simple moving average of $397.24 and a 200-day simple moving average of $362.31.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating analysts' consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm's quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, sell-side analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

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

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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