Northwestern Mutual Wealth Management Co. Takes $2.06 Million Position in Reliance, Inc. $RS

Key Points

• Northwestern Mutual Wealth Management acquired 5,526 Reliance shares worth approximately $2.06 million in the second quarter. Institutional investors collectively own 79.26% of the company’s stock.
• Reliance reported quarterly EPS of $6.27, surpassing estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. The company guided for third-quarter EPS of $6.40–$6.60.
• Analysts maintain a consensus “Hold” rating with a $377.50 target price, despite mixed recommendations. Reliance also declared a $1.25 quarterly dividend, equivalent to a 1.3% annual yield.

Northwestern Mutual Wealth Management Co. bought a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,526 shares of the industrial products company's stock, valued at approximately $2,065,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. XXEC Inc. purchased a new stake in Reliance in the second quarter valued at approximately $127,493,000. BlackRock Inc. bought a new position in Reliance in the second quarter valued at $2,171,081,000. State Street Corp increased its stake 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 acquiring an additional 118,009 shares during the last quarter. Boston Partners raised its position in Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock valued at $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 worth $479,870,000 after purchasing an additional 343,598 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup restated a "neutral" rating on shares of Reliance in a report on Wednesday, July 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of Reliance in a research note on Thursday, August 13th. Bank of America lowered shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Finally, KeyCorp lifted their price objective on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $377.50.

Reliance Price Performance

Shares of Reliance stock opened at $382.26 on Tuesday. The firm has a market cap of $19.52 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02. 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 company's fifty day simple moving average is $398.33 and its two-hundred day simple moving average is $361.18.

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

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is 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 presently 29.07%.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William A. Smith II sold 2,353 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares of the company's stock, 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 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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