Freestone Grove Partners LP Takes Position in Reliance, Inc. $RS

Key Points

• Freestone Grove Partners purchased 5,357 shares of Reliance (NYSE: RS) during the second quarter, valued at approximately $2.0 million. Institutional investors collectively own 79.26% of the company.
• Reliance exceeded quarterly expectations, reporting $6.27 in EPS and $4.63 billion in revenue, with revenue up 26.5% year over year. The company issued third-quarter 2026 EPS guidance of $6.40–$6.60 and paid a quarterly dividend of $1.25.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $377.50. Two senior executives recently sold shares, while insiders own just 0.40% of the company.

Freestone Grove Partners LP purchased a new stake in Reliance, Inc. (NYSE:RS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,357 shares of the industrial products company's stock, valued at approximately $2,001,000.

A number of other institutional investors have also recently added to or reduced their stakes in RS. PFA Pension Forsikringsaktieselskab bought a new stake in Reliance during the fourth quarter valued at $61,317,000. Arjuna Capital bought a new stake in Reliance in the 4th quarter worth approximately $1,838,000. Forsta AP Fonden bought a new stake in shares of Reliance in the 4th quarter worth approximately $2,022,000. Fulcrum Wealth Advisors LLC purchased a new stake in Reliance during the fourth quarter valued at about $2,529,000. Finally, Versor Investments LP purchased a new stake in Reliance during the 4th quarter valued at about $399,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Price Performance

Shares of RS opened at $387.57 on Friday. The firm has a fifty day simple moving average of $397.24 and a two-hundred day simple moving average of $362.24. The firm has a market cap of $19.79 billion, a PE ratio of 22.53, a P/E/G ratio of 1.01 and a beta of 0.96. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02.

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

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Reliance's dividend payout ratio (DPR) is presently 29.07%.

Insider Transactions at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on RS. Citigroup reissued a "neutral" rating on shares of Reliance in a research report on Wednesday, July 29th. Wall Street Zen upgraded Reliance from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 23rd. Wells Fargo & Company cut their price objective on shares of Reliance from $398.00 to $391.00 and set an "equal weight" rating on the stock in a report on Monday, August 24th. Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a report on Thursday, August 13th. Finally, BMO Capital Markets raised their price target on shares of Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $377.50.

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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