Corient Private Wealth LP Has $122.72 Million Stock Position in Reliance, Inc. $RS

Corient Private Wealth LP reduced its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 328,467 shares of the industrial products company's stock after selling 19,622 shares during the period. Corient Private Wealth LP owned about 0.64% of Reliance worth $122,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in shares of Reliance during the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. grew its position 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 acquiring an additional 50 shares during the last quarter. Greenline Wealth Management LLC bought a new stake in Reliance during the 4th quarter worth approximately $32,000. Quarry LP bought a new stake in Reliance during the 3rd quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust increased its holdings 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 purchasing an additional 55 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

Shares of Reliance stock opened at $393.90 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The stock's 50-day moving average is $399.24 and its 200-day moving average is $365.90. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 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 analysts' expectations of $4.26 billion. During the same quarter last year, the company posted $4.43 earnings per share. The company'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. Equities analysts predict that Reliance, Inc. will post 22.53 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RS shares. KeyCorp boosted their price objective on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on Reliance from $398.00 to $390.00 and set a "neutral" rating for the company in a report on Wednesday. Citigroup reiterated a "neutral" rating on shares of Reliance in a research report on Wednesday, July 29th. Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered Reliance from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $379.83.

Insider Buying and Selling at Reliance

In other news, 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 transaction of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares of the company's stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William Smith, II sold 2,353 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were 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 approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

Reliance Company 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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