Reliance, Inc. $RS Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Reliance position by 31% in the second quarter, selling 3,913 shares and retaining 8,725 shares valued at approximately $3.26 million. Institutional investors and hedge funds collectively own 79.26% of the company.
• Reliance reported quarterly EPS of $6.27, exceeding estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. 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 have a consensus “Hold” rating with an average price target of $378.67, below the reported share price of $424.77.

Assenagon Asset Management S.A. lowered its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 31.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,725 shares of the industrial products company's stock after selling 3,913 shares during the period. Assenagon Asset Management S.A.'s holdings in Reliance were worth $3,260,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Apella Capital LLC bought a new position in Reliance in the 2nd quarter worth about $640,000. Mirador Capital Partners LP bought a new stake in shares of Reliance during the second quarter valued at approximately $364,000. GAMMA Investing LLC raised its holdings in shares of Reliance by 52.4% during the second quarter. GAMMA Investing LLC now owns 2,204 shares of the industrial products company's stock valued at $823,000 after buying an additional 758 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Reliance by 13.5% during the second quarter. Versant Capital Management Inc now owns 421 shares of the industrial products company's stock worth $157,000 after buying an additional 50 shares during the period. Finally, Roxbury Financial LLC grew its holdings in Reliance by 308.0% in the 2nd quarter. Roxbury Financial LLC now owns 204 shares of the industrial products company's stock worth $76,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Price Performance

Shares of NYSE:RS opened at $424.77 on Friday. The stock has a market cap of $21.69 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.10 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The stock's 50 day moving average price is $398.20 and its 200 day moving average price is $357.54.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $4.63 billion during 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 firm's quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance's payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

RS has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Reliance from $378.00 to $376.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 15th. Wells Fargo & Company boosted their price target on Reliance from $372.00 to $398.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. KeyCorp increased their price target on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. Wall Street Zen raised Reliance from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, Bank of America cut shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective on the stock. in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $378.67.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the senior vice president directly owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by 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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