First Trust Advisors LP Has $31.38 Million Holdings in Reliance, Inc. $RS

First Trust Advisors LP raised its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 20.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,249 shares of the industrial products company's stock after buying an additional 17,371 shares during the quarter. First Trust Advisors LP owned 0.20% of Reliance worth $31,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Reliance by 6.6% in the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company's stock valued at $4,364,000 after acquiring an additional 940 shares in the last quarter. Empowered Funds LLC boosted its stake in Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock worth $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. grew its position in Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company's stock worth $76,000 after purchasing an additional 131 shares in the last quarter. Walleye Capital LLC grew its position in Reliance by 2,192.5% during the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company's stock worth $381,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Reliance during the 2nd quarter worth approximately $1,318,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Reliance from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. The Goldman Sachs Group started coverage on Reliance in a report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 15th. Seaport Research Partners increased their price objective on Reliance from $340.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Finally, BMO Capital Markets raised their price objective on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $378.67.

Reliance Trading Up 2.5%

Reliance stock opened at $414.53 on Wednesday. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $419.83. 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 $21.16 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.16 and a beta of 0.97. The company's fifty day simple moving average is $388.97 and its 200-day simple moving average is $349.34.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping 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 return on equity of 12.51% and a net margin of 5.65%.Reliance's quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts forecast that Reliance, Inc. will post 19.84 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. Reliance's dividend payout ratio (DPR) is 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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