Manning & Napier Advisors LLC Invests $2.57 Million in Reliance, Inc. $RS

Manning & Napier Advisors LLC bought a new stake in shares of 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 fund bought 6,858 shares of the industrial products company's stock, valued at approximately $2,568,000.

Several other institutional investors and hedge funds have also bought and sold shares of RS. XXEC Inc. bought a new position in Reliance in the second quarter worth approximately $127,493,000. BlackRock Inc. purchased a new position in Reliance during the 2nd quarter worth $2,171,081,000. State Street Corp boosted its holdings in Reliance by 4.5% during the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company's stock worth $784,503,000 after purchasing an additional 118,009 shares during the last quarter. Boston Partners grew its holdings in shares of Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock valued at $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Reliance by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company's stock valued at $479,870,000 after purchasing an additional 343,598 shares during the period. 79.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Arthur Ajemyan sold 2,200 shares of the business'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 value of $902,242.00. Following the sale, the chief financial officer directly owned 14,640 shares of the company's stock, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the 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 sale, the senior vice president directly owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company's stock.

Reliance Stock Performance

NYSE:RS opened at $384.48 on Wednesday. The firm has a market cap of $19.63 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The business has a 50 day moving average price of $397.77 and a 200-day moving average price of $361.45.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion for 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%.Reliance's revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance's payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Bank of America downgraded Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 target price for the company. in a research note on Thursday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of Reliance from $378.00 to $376.00 and set a "neutral" rating for the company in a research report on Wednesday, July 15th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a research note on Thursday, August 13th. One research 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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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