Reliance, Inc. $RS Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Reliance position by 189.2% in the second quarter, bringing its holdings to 6,423 shares valued at approximately $2.4 million. Institutional investors collectively own 79.26% of the company.
• Reliance reported quarterly adjusted earnings of $6.27 per share, beating estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. The company guided for third-quarter EPS of $6.40–$6.60.
• Reliance pays a quarterly dividend of $1.25, or $5.00 annually, yielding about 1.2%. Analysts maintain a consensus “Hold” rating with an average price target of $379.83, below the reported share price of $400.99.

NewEdge Advisors LLC raised its position in Reliance, Inc. (NYSE:RS - Free Report) by 189.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,423 shares of the industrial products company's stock after purchasing an additional 4,202 shares during the period. NewEdge Advisors LLC's holdings in Reliance were worth $2,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its position in shares of Reliance by 62.8% in the second quarter. Squarepoint Ops LLC now owns 15,445 shares of the industrial products company's stock valued at $5,770,000 after buying an additional 5,958 shares during the last quarter. Baird Financial Group Inc. boosted its position in Reliance by 28.4% during the second quarter. Baird Financial Group Inc. now owns 4,108 shares of the industrial products company's stock worth $1,535,000 after acquiring an additional 909 shares during the last quarter. Allworth Financial LP boosted its position in Reliance by 41.1% during the second quarter. Allworth Financial LP now owns 285 shares of the industrial products company's stock worth $106,000 after acquiring an additional 83 shares during the last quarter. Arizona State Retirement System grew its stake in Reliance by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 14,654 shares of the industrial products company's stock valued at $5,475,000 after acquiring an additional 440 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Reliance during the 2nd quarter valued at about $5,247,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Price Performance

Shares of RS stock opened at $400.99 on Friday. 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 firm's 50-day moving average is $400.36 and its two-hundred day moving average is $368.37. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The company has a market capitalization of $20.47 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. Reliance's revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts predict that Reliance, Inc. will post 22.53 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $1.25 dividend. The ex-dividend date was 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 currently 29.07%.

Wall Street Analysts Forecast Growth

RS has been the topic of a number of research reports. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Wells Fargo & Company dropped their price target on Reliance from $398.00 to $391.00 and set an "equal weight" rating for the company in a research report on Monday, August 24th. Wall Street Zen cut Reliance from a "strong-buy" rating to a "buy" rating in a report on Monday, August 31st. Citigroup reiterated a "neutral" rating on shares of Reliance in a research report on Wednesday, July 29th. Finally, 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, July 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $379.83.

Insider Activity at Reliance

In related news, SVP William Smith, II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 directly owned 19,394 shares in the company, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer directly owned 14,640 shares of the company's stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company's stock.

About Reliance

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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