National Pension Service Trims Stock Holdings in Reliance, Inc. $RS

Key Points

• National Pension Service cut its Reliance stake by 37.6% in the second quarter, selling 3,571 shares and retaining 5,924 shares valued at approximately $2.2 million. Institutional investors collectively own 79.26% of the company.
• Reliance exceeded quarterly expectations with earnings of $6.27 per share versus the $5.47 consensus and revenue of $4.63 billion, up 26.5% year over year. The company issued third-quarter EPS guidance of $6.40–$6.60 and pays an annualized $5.00 dividend, yielding about 1.3%.
• Wall Street maintains a broadly cautious outlook, with Reliance carrying a consensus “Hold” rating and an average price target of $379.83, below the reported share price of $393.90.

National Pension Service lowered its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 37.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,924 shares of the industrial products company's stock after selling 3,571 shares during the quarter. National Pension Service's holdings in Reliance were worth $2,213,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RS. XXEC Inc. acquired a new position in shares of Reliance in the second quarter valued at about $127,493,000. California State Teachers Retirement System lifted its holdings in shares of Reliance by 20,857.7% during the second quarter. California State Teachers Retirement System now owns 32,965,343 shares of the industrial products company's stock worth $12,315,852,000 after purchasing an additional 32,808,048 shares during the period. BlackRock Inc. purchased a new stake in Reliance in the second quarter valued at approximately $2,171,081,000. State Street Corp boosted its position in Reliance by 4.5% in the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company's stock valued at $784,503,000 after buying an additional 118,009 shares during the last quarter. Finally, Boston Partners increased its holdings in Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock worth $631,224,000 after buying an additional 484,286 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Performance

Shares of RS stock opened at $393.90 on Monday. 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 12-month low of $260.31 and a 12-month high of $433.02. The business's 50 day moving average is $399.24 and its two-hundred day moving average is $366.20. The company has a market capitalization of $20.11 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last posted 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 analysts' expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business's revenue was up 26.5% compared to the same quarter last year. During the same period 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. Analysts expect that Reliance, Inc. will post 22.53 EPS for the current fiscal year.

Reliance Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RS shares. Wells Fargo & Company reduced their price target on shares of Reliance from $398.00 to $391.00 and set an "equal weight" rating for the company in a research report on Monday, August 24th. KeyCorp upped their price objective on shares of Reliance from $378.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Citigroup reiterated a "neutral" rating on shares of Reliance in a research note on Wednesday, July 29th. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Reliance from $398.00 to $390.00 and set a "neutral" rating for the company in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Reliance has a consensus rating of "Hold" and an average target price of $379.83.

Insider Activity

In other 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 value of $902,242.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company's stock.

Reliance Company Profile

Reliance, Inc NYSE: RS is a diversified metals service center company that purchases, processes and distributes metals and related industrial products. Its product portfolio includes carbon steel, aluminum, stainless steel, copper, brass, titanium and other specialty metals.

The company provides value-added processing services such as cutting, leveling, sawing, machining, forming and preparing materials to customer specifications. These services help manufacturers and other commercial users reduce material-handling requirements and obtain metals in ready-to-use forms.

Founded in 1939 and headquartered in Los Angeles, California, Reliance serves customers through a network of operations primarily across North America, with additional international capabilities.

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