OMERS ADMINISTRATION Corp Acquires 5,531 Shares of Reliance, Inc. $RS

Key Points

• OMERS Administration Corp increased its Reliance stake by 204.7% in the first quarter, purchasing 5,531 additional shares and bringing its holdings to 8,233 shares valued at approximately $2.5 million. Institutional investors own 79.26% of the company.
• Reliance reported a strong quarter, with EPS of $6.27 versus the $5.47 consensus and revenue of $4.63 billion, up 26.5% year over year. The company guided for third-quarter EPS of $6.40–$6.60.
• Analysts maintain a consensus “Hold” rating with an average price target of $378.67, below the stock’s $414.53 opening price. Reliance also declared a quarterly dividend of $1.25 per share, equivalent to a 1.2% annual yield.

OMERS ADMINISTRATION Corp lifted its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 204.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,233 shares of the industrial products company's stock after buying an additional 5,531 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Reliance were worth $2,502,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Costello Asset Management INC bought a new position in shares of Reliance during the first quarter valued at approximately $30,000. Brown Brothers Harriman & Co. grew its stake in shares of Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Greenline Wealth Management LLC purchased a new stake in shares of Reliance in the fourth quarter worth $32,000. Quarry LP purchased a new position in shares of Reliance in the 3rd quarter worth about $32,000. Finally, Parkside Financial Bank & Trust boosted its stake in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock worth $34,000 after purchasing an additional 55 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RS has been the subject of several analyst reports. Seaport Research Partners raised their price target on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Bank of America downgraded Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 target price on the stock. in a research note on Thursday, April 30th. Wells Fargo & Company lifted their target price on Reliance from $372.00 to $398.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. BMO Capital Markets boosted their price target on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Wall Street Zen raised Reliance from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $378.67.

Reliance Price Performance

NYSE RS opened at $414.53 on Wednesday. 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's fifty day moving average is $388.97 and its 200 day moving average is $349.34. The company has a market capitalization of $21.16 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $419.83.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data 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 during 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%.The firm's revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Sell-side analysts predict that Reliance, Inc. will post 19.84 earnings per share for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. Reliance's dividend payout ratio (DPR) is presently 29.07%.

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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