Magnetar Financial LLC Acquires Shares of 12,898 Reliance, Inc. $RS

Key Points

• Magnetar Financial LLC opened a new position in Reliance (NYSE:RS) in Q3, buying 12,898 shares worth about $3.62 million.
• Reliance reported Q2 EPS of $2.40 (missing the $2.80 estimate) with revenue of $3.50 billion (beating estimates), set Q1 2026 guidance at $4.50–4.70 EPS, and raised its quarterly dividend to $1.25 ($5.00 annual, ~1.6% yield).
• Senior insiders sold sizable stakes recently (SVP sold 6,615 shares; COO sold 24,060), insiders now own 0.35%, institutional ownership is ~79%, and analysts' consensus rating is Hold with a $324.33 target price.

Magnetar Financial LLC bought a new position in Reliance, Inc. (NYSE:RS - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,898 shares of the industrial products company's stock, valued at approximately $3,622,000.

Several other hedge funds have also recently made changes to their positions in the company. Guerra Advisors Inc bought a new position in shares of Reliance during the 3rd quarter worth $34,000. Root Financial Partners LLC bought a new stake in Reliance in the 3rd quarter valued at about $38,000. Allworth Financial LP raised its stake in Reliance by 46.3% in the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 44 shares during the period. Caldwell Trust Co purchased a new stake in Reliance during the second quarter valued at about $58,000. Finally, Transamerica Financial Advisors LLC boosted its position in Reliance by 31.4% during the second quarter. Transamerica Financial Advisors LLC now owns 201 shares of the industrial products company's stock worth $63,000 after purchasing an additional 48 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Reliance Trading Up 2.6%

Shares of RS stock opened at $308.18 on Thursday. The business has a 50-day moving average price of $323.24 and a two-hundred day moving average price of $297.39. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $365.59. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $15.94 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.40). The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.45 billion. Reliance had a net margin of 5.17% and a return on equity of 10.45%. Reliance's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.22 earnings per share. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Equities analysts anticipate that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. This is a boost from Reliance's previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. Reliance's payout ratio is 35.79%.

Insider Buying and Selling

In related news, SVP William A. Smith II sold 6,615 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the transaction, the senior vice president owned 21,747 shares of the company's stock, valued at approximately $6,493,871.67. This trade represents a 23.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen Paul Koch sold 24,060 shares of Reliance stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the completion of the transaction, the chief operating officer owned 14,021 shares in the company, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.35% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RS. Zacks Research upgraded shares of Reliance from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 3rd. KeyCorp restated an "overweight" rating on shares of Reliance in a research report on Wednesday, January 7th. Wells Fargo & Company upped their price target on Reliance from $315.00 to $323.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Wall Street Zen lowered Reliance from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Reliance in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Reliance has a consensus rating of "Hold" and a consensus target price of $324.33.

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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