Alpine Woods Capital Investors LLC Takes Position in Reliance, Inc. $RS

Key Points

• Alpine Woods Capital Investors initiated a position in Reliance, purchasing 9,641 shares valued at approximately $3.6 million. Institutional investors and hedge funds 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.
• Reliance declared a quarterly dividend of $1.25 per share, equivalent to a $5.00 annualized payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $378.67, below the stock’s reported $421.28 price.

Alpine Woods Capital Investors LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,641 shares of the industrial products company's stock, valued at approximately $3,602,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Costello Asset Management INC acquired a new stake in Reliance during the 1st quarter valued at $30,000. Brown Brothers Harriman & Co. increased its stake in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after buying an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new position in Reliance in the 4th quarter worth $32,000. Quarry LP acquired a new position in Reliance in the 3rd quarter worth $32,000. Finally, Parkside Financial Bank & Trust boosted its position in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock valued at $34,000 after buying an additional 55 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Trading Down 1.6%

NYSE:RS opened at $421.28 on Wednesday. The company has a market cap of $21.51 billion, a PE ratio of 24.49, a P/E/G ratio of 1.10 and a beta of 0.96. The business's 50 day moving average is $399.83 and its two-hundred day moving average is $359.62. 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.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly 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 business had revenue of $4.63 billion during 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 business's quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts predict that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

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 paid a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance's payout ratio is presently 29.07%.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president directly owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup reissued a "neutral" rating on shares of Reliance in a report on Wednesday, July 29th. Wall Street Zen downgraded Reliance from a "strong-buy" rating to a "buy" rating in a report on Saturday. Seaport Research Partners upped their target price on Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. BMO Capital Markets increased their target price on Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Finally, Bank of America downgraded shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $378.67.

About Reliance

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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