Empowered Funds LLC Buys New Holdings in Reliance, Inc. $RS

Key Points

• Empowered Funds LLC acquired 27,053 Reliance shares worth approximately $10.1 million, giving it a 0.05% stake. Institutional investors collectively own 79.26% of the company.
• Analyst sentiment remains mixed: Reliance has an average “Hold” rating and a consensus price target of $377.50, while some firms recently upgraded the stock to “Strong Buy.”
• Reliance reported quarterly EPS of $6.27, exceeding estimates by $0.80, with revenue up 26.5% year over year. The company also maintained its $1.25 quarterly dividend, representing a 1.3% yield.

Empowered Funds LLC acquired a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,053 shares of the industrial products company's stock, valued at approximately $10,107,000. Empowered Funds LLC owned about 0.05% of Reliance as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Costello Asset Management INC acquired a new position in Reliance in the first quarter valued at $30,000. Brown Brothers Harriman & Co. lifted 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 period. Greenline Wealth Management LLC acquired a new stake in Reliance during the 4th quarter worth approximately $32,000. Quarry LP purchased a new position in shares of Reliance in the 3rd quarter valued at approximately $32,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of 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 purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RS shares. Wells Fargo & Company dropped their target price on Reliance from $398.00 to $391.00 and set an "equal weight" rating on the stock in a research report on Monday, August 24th. Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a research note on Thursday, August 13th. Zacks Research raised Reliance from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Wall Street Zen raised Reliance from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 23rd. Finally, Citigroup reissued a "neutral" rating on shares of Reliance in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Reliance currently has an average rating of "Hold" and an average target price of $377.50.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 19,394 shares of the company's stock, valued at $8,033,188.74. The trade was 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 company insiders.

Reliance Stock Down 1.1%

RS opened at $387.57 on Friday. 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 firm has a market cap of $19.79 billion, a P/E ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $433.02. The business's fifty day simple moving average is $397.24 and its 200 day simple moving average is $362.24.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data 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. 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 revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

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