Reliance, Inc. $RS Shares Bought by South Dakota Investment Council

Key Points

• South Dakota Investment Council doubled its Reliance stake in the first quarter, increasing holdings by 103% to 30,535 shares valued at approximately $9.28 million. Institutional investors collectively own 79.26% of the company.
• Reliance reported stronger-than-expected quarterly results, with EPS of $6.27 versus a $5.47 consensus estimate and revenue of $4.63 billion, up 26.5% year over year. The company issued third-quarter 2026 EPS guidance of $6.40–$6.60.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $378.67, below the reported share price of $403.09.

South Dakota Investment Council raised its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 103.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,535 shares of the industrial products company's stock after buying an additional 15,494 shares during the quarter. South Dakota Investment Council owned about 0.06% of Reliance worth $9,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Reliance during the 4th quarter valued at about $207,691,000. Boston Partners lifted its stake in Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock worth $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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. Corient Private Wealth LLC boosted its holdings in shares of Reliance by 1,019.0% during the 4th quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company's stock worth $98,758,000 after purchasing an additional 311,323 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Reliance by 4,419.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company's stock worth $79,210,000 after purchasing an additional 268,139 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Price Performance

RS stock opened at $403.09 on Thursday. Reliance, Inc. has a 52-week low of $260.31 and a 52-week 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. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The business has a fifty day moving average of $389.80 and a two-hundred day moving average of $350.01.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company's quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, research analysts anticipate that Reliance, Inc. will post 19.84 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given 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 1.2%. Reliance's dividend payout ratio is presently 29.07%.

Analyst Ratings Changes

RS has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday. Weiss Ratings raised Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Bank of America lowered Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target on the stock. in a report on Thursday, April 30th. Citigroup reissued a "neutral" rating on shares of Reliance in a research report on Wednesday. Finally, The Goldman Sachs Group started coverage on shares of Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price objective for the company. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $378.67.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 2,353 shares of Reliance 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 completion of the sale, the senior vice president directly owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

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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