Reliance, Inc. $RS Position Reduced by Edgestream Partners L.P.

Key Points

• Edgestream Partners L.P. cut its Reliance position by 95.5% in the first quarter, selling 48,512 shares and retaining 2,303 shares worth approximately $700,000. Institutional investors still own 79.26% of the company.
• Analyst sentiment remains mixed, with two Buy ratings, six Holds and one Sell; the average price target is $378.67. Reliance executives also sold shares in late July.
• Reliance beat quarterly expectations with EPS of $6.27 versus the $5.47 consensus and revenue of $4.63 billion, up 26.5% year over year. The company declared a $1.25 quarterly dividend, equivalent to a 1.2% yield.

Edgestream Partners L.P. trimmed its position in Reliance, Inc. (NYSE:RS - Free Report) by 95.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,303 shares of the industrial products company's stock after selling 48,512 shares during the period. Edgestream Partners L.P.'s holdings in Reliance were worth $700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProCore Advisors LLC bought a new position in Reliance during the fourth quarter valued at about $18,787,000. Arjuna Capital bought a new stake in Reliance in the fourth quarter worth about $1,838,000. PFA Pension Forsikringsaktieselskab bought a new stake in Reliance in the fourth quarter worth about $61,317,000. Forsta AP Fonden bought a new stake in Reliance in the fourth quarter worth about $2,022,000. Finally, Fulcrum Wealth Advisors LLC acquired a new stake in Reliance in the 4th quarter valued at about $2,529,000. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Reliance from a "buy" rating to a "strong-buy" rating in a research note on Saturday. KeyCorp increased their target price on shares of Reliance from $378.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $378.00 to $376.00 and set a "neutral" rating for the company in a report on Wednesday, July 15th. BMO Capital Markets lifted their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Reliance has an average rating of "Hold" and an average price target of $378.67.

Insider Buying and Selling

In related news, 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 of the company's stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by insiders.

Reliance Trading Up 1.5%

NYSE:RS opened at $415.72 on Wednesday. The stock has a fifty day simple moving average of $392.97 and a 200 day simple moving average of $352.73. The firm has a market capitalization of $21.23 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $419.83. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (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 for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the company earned $4.43 EPS. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Sell-side analysts forecast that Reliance, Inc. will post 21.33 earnings per share for the current year.

Reliance Announces Dividend

The company also recently announced 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. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance's dividend payout ratio (DPR) is 29.07%.

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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