Nykredit A S Buys New Position in Reliance, Inc. $RS

Key Points

• Nykredit A/S initiated a position in Reliance, Inc., purchasing 14,044 shares valued at approximately $5.25 million. Institutional investors collectively own 79.26% of the company.
• Analyst sentiment remains mixed, with Reliance holding a consensus “Hold” rating and an average price target of $379.83. Recent target changes ranged from Wells Fargo’s $391 to KeyCorp’s $418.
• Reliance reported quarterly EPS of $6.27, beating estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. The company also maintains a quarterly dividend of $1.25, equivalent to a 1.3% yield.

Nykredit A S bought a new stake in shares of Reliance, Inc. (NYSE:RS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,044 shares of the industrial products company's stock, valued at approximately $5,247,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company's stock worth $580,000 after buying an additional 31 shares during the last quarter. Greenleaf Trust grew its position in shares of Reliance by 2.0% during the 2nd quarter. Greenleaf Trust now owns 1,614 shares of the industrial products company's stock worth $603,000 after buying an additional 32 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Reliance by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company's stock valued at $1,209,000 after acquiring an additional 34 shares in the last quarter. Kathmere Capital Management LLC lifted its position in shares of Reliance by 4.8% during the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company's stock valued at $250,000 after acquiring an additional 38 shares during the period. Finally, Root Financial Partners LLC boosted its stake in Reliance by 27.6% during the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company's stock worth $56,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RS. Wall Street Zen downgraded shares of Reliance from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 31st. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Wells Fargo & Company reduced their target price on Reliance from $398.00 to $391.00 and set an "equal weight" rating for the company in a research note on Monday, August 24th. KeyCorp boosted their target price on Reliance from $378.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Reliance in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Reliance currently has a consensus rating of "Hold" and a consensus target price of $379.83.

Reliance Trading Down 1.4%

RS opened at $384.56 on Tuesday. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The firm has a market capitalization of $19.64 billion, a PE ratio of 22.36, a P/E/G ratio of 0.99 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The company's 50-day moving average is $400.55 and its 200 day moving average is $369.34.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the business 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, research analysts predict that Reliance, Inc. will post 22.53 earnings per share for the current fiscal year.

Reliance Announces Dividend

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

Insider Buying and Selling at Reliance

In related news, SVP William A. Smith II sold 2,353 shares of the business's 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 transaction, the senior vice president directly owned 19,394 shares in the company, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the company's stock in a transaction dated 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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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