Reliance, Inc. $RS Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management reduced its Reliance stake by 21.9% in the second quarter, selling 5,064 shares and retaining 18,026 shares valued at approximately $6.7 million. Institutional investors collectively own 79.26% of the company.
• Reliance reported quarterly EPS of $6.27, beating estimates of $5.47, while revenue rose 26.5% year over year to $4.63 billion. The company issued third-quarter EPS guidance of $6.40–$6.60.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $378.67 price target, despite several recent upgrades. Reliance also declared a quarterly dividend of $1.25 per share, implying a 1.2% yield.

Wedge Capital Management L L P NC lessened its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 21.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,026 shares of the industrial products company's stock after selling 5,064 shares during the quarter. Wedge Capital Management L L P NC's holdings in Reliance were worth $6,735,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Reliance in the fourth quarter valued at $207,691,000. Boston Partners boosted 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 buying an additional 484,286 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 valued at $479,870,000 after buying an additional 343,598 shares during the period. Corient Private Wealth LLC increased its stake 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 valued at $98,758,000 after acquiring an additional 311,323 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted 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 acquiring an additional 268,139 shares during the period. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares of the company's stock, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the transaction, the senior vice president 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 currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on RS. Citigroup reissued a "neutral" rating on shares of Reliance in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Reliance from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Seaport Research Partners lifted their price target on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Reliance currently has an average rating of "Hold" and a consensus target price of $378.67.

Reliance Trading Up 0.7%

Shares of RS opened at $426.53 on Thursday. 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 is $397.63 and its two-hundred day moving average is $356.87. 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 stock has a market cap of $21.78 billion, a PE ratio of 24.80, a P/E/G ratio of 1.09 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 (EPS) for the quarter, beating analysts' consensus estimates of $5.47 by $0.80. The business 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 company's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts forecast that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance's payout ratio is presently 29.07%.

About Reliance

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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