Reliance, Inc. $RS Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management cut its Reliance stake by 31.6% in the second quarter, selling 2,549 shares and retaining 5,526 shares valued at approximately $2.1 million. Institutional investors collectively own 79.26% of the company.
• Reliance reported stronger-than-expected quarterly results, with EPS of $6.27 versus the $5.47 consensus estimate and revenue of $4.63 billion. Revenue increased 26.5% year over year, and management guided for third-quarter EPS of $6.40–$6.60.
• The stock opened at $401.15, while analysts maintained a consensus “Hold” rating with a $377.50 target price. Reliance also paid a quarterly dividend of $1.25, equivalent to a 1.2% annualized yield.

Northwestern Mutual Wealth Management Co. lowered its stake in Reliance, Inc. (NYSE:RS - Free Report) by 31.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,526 shares of the industrial products company's stock after selling 2,549 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Reliance were worth $2,065,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Costello Asset Management INC bought a new position in Reliance during the 1st quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new stake in Reliance in the 2nd quarter valued at about $37,000. Brown Brothers Harriman & Co. boosted its position in shares of Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Reliance in the 2nd quarter worth approximately $41,000. Finally, Greenline Wealth Management LLC bought a new stake in shares of Reliance in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Stock Performance

Shares of RS stock opened at $401.15 on Friday. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.02 and a beta of 0.96. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock's fifty day simple moving average is $396.94 and its 200-day simple moving average is $363.68.

Reliance (NYSE:RS - Get Free Report) last announced 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. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business's revenue for the quarter was up 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, sell-side analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 14th. Reliance's dividend payout ratio is currently 29.07%.

Analyst Ratings Changes

Several research analysts have issued reports on RS shares. KeyCorp lifted their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 24th. Citigroup reissued a "neutral" rating on shares of Reliance in a research note on Wednesday, July 29th. JPMorgan Chase & Co. reduced their target price on 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 Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company cut their price objective on Reliance from $398.00 to $391.00 and set an "equal weight" rating on the stock in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $377.50.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the 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 completion of the sale, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William Smith, II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president directly owned 19,394 shares of the company's stock, valued at $8,033,188.74. This trade 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 currently owned by corporate insiders.

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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