Quantinno Capital Management LP Has $12.90 Million Position in Reliance, Inc. $RS

Key Points

• Quantinno Capital Management increased its Reliance stake by 80.9% in the first quarter, owning 42,435 shares valued at approximately $12.9 million. Institutional investors and hedge funds collectively hold 79.26% of the company.
• Reliance reported quarterly EPS of $6.27, surpassing the $5.47 consensus estimate, 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 an average price target of $378.67, below the stock’s $409.33 opening price. Reliance also declared a quarterly dividend of $1.25, representing a 1.2% annualized yield.

Quantinno Capital Management LP lifted its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 80.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,435 shares of the industrial products company's stock after purchasing an additional 18,976 shares during the quarter. Quantinno Capital Management LP owned 0.08% of Reliance worth $12,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Reliance by 6.6% during the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company's stock worth $4,364,000 after buying an additional 940 shares in the last quarter. Empowered Funds LLC grew its position in Reliance by 4.8% during the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock worth $1,635,000 after acquiring an additional 258 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company's stock worth $76,000 after acquiring an additional 131 shares during the last quarter. Walleye Capital LLC increased its holdings in Reliance by 2,192.5% in the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company's stock worth $381,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Reliance in the second quarter valued at about $1,318,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RS. KeyCorp boosted their price target on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Bank of America lowered shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective for the company. in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a report on Wednesday, July 15th. Seaport Research Partners upped 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. Finally, Weiss Ratings upgraded shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $378.67.

Reliance Trading Up 0.8%

NYSE RS opened at $409.33 on Tuesday. The firm has a market capitalization of $20.90 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96. The business's 50-day moving average price is $392.18 and its two-hundred day moving average price is $352.02. 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 $419.83.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the company earned $4.43 earnings per share. The firm's 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. On average, analysts expect that Reliance, Inc. will post 20.37 EPS for the current year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $1.25 dividend. 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 payout ratio is 29.07%.

Insider Activity

In other news, SVP William A. Smith II sold 2,353 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.40% of the company's stock.

Reliance 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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