Reliance, Inc. $RS Stock: State of Alaska Department of Revenue Decreases Position

Key Points

• State of Alaska Department of Revenue cut its Reliance stake by 73.3% in the third quarter, selling 29,165 shares and retaining 10,641 shares valued at approximately $4.1 million.
• Institutional investors own 79.26% of Reliance, while several large firms—including BlackRock and Bank of New York Mellon—established substantial positions during the second quarter.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $387.43, below the stock’s reported $410.90 price; Reliance most recently beat earnings and revenue estimates.

State of Alaska Department of Revenue decreased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 73.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,641 shares of the industrial products company's stock after selling 29,165 shares during the period. State of Alaska Department of Revenue's holdings in Reliance were worth $4,094,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in RS. BlackRock Inc. bought a new position in shares of Reliance during the 2nd quarter valued at approximately $2,171,081,000. Bank of New York Mellon Corp purchased a new stake in shares of Reliance during the 2nd quarter worth approximately $176,913,000. William Blair Investment Management LLC purchased a new stake in shares of Reliance during the 2nd quarter worth approximately $142,900,000. Corient Private Wealth LP bought a new stake in shares of Reliance in the 2nd quarter worth approximately $129,799,000. Finally, XXEC Inc. bought a new stake in shares of Reliance in the 2nd quarter worth approximately $127,493,000. Institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

RS has been the topic of several research analyst reports. Wall Street Zen downgraded Reliance from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 11th. Zacks Research raised Reliance from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. BMO Capital Markets raised their target price on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. KeyCorp boosted their target price on Reliance from $418.00 to $421.00 and gave the company an "overweight" rating in a research note on Monday, October 5th. Finally, Wells Fargo & Company dropped their price target on Reliance from $398.00 to $391.00 and set an "equal weight" rating on the stock in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $387.43.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the business's 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William A. Smith II sold 2,353 shares of the business's 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 in the company, valued at $8,033,188.74. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

Reliance Price Performance

Shares of NYSE:RS opened at $410.90 on Friday. The firm has a market capitalization of $20.98 billion, a PE ratio of 23.89, a P/E/G ratio of 0.94 and a beta of 0.95. 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 company has a 50-day moving average price of $398.40 and a two-hundred day moving average price of $381.66. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $433.02.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm posted $4.43 earnings per share. The company's quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts forecast that Reliance, Inc. will post 23.70 EPS for the current year.

Reliance News Summary

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Barclays initiated coverage with an “equal weight” rating and a $420 price target. The target implies modest upside from the stock’s recent $410.90 level, providing a measured valuation endorsement even though Barclays did not recommend an outright overweight position.
• Neutral Sentiment: Wall Street is focusing on Reliance’s third-quarter 2026 operating metrics ahead of earnings. The latest preview highlights estimates for revenue, earnings and key performance measures for the quarter ended September, but it does not report actual results or identify a significant estimate revision. Zacks Reliance Q3 earnings preview
• Neutral Sentiment: Most of the other reports concern Reliance Industries Ltd. in India and its Jio Platforms IPO, not Reliance, Inc. (RS). News about Jio’s proposed ₹30,213 crore offering, its price band, distribution arrangements and Joyland dairy products may affect Indian-listed Reliance Industries, but it is not a direct catalyst for the U.S.-listed industrial metals distributor.

Reliance Company Profile

Reliance, operating as Reliance Steel & Aluminum Co NYSE: RS, is a diversified metals service center company. It distributes a broad range of metals, including carbon steel, stainless steel, aluminum, copper, brass, titanium and specialty steel products, serving manufacturers, fabricators, construction companies and other industrial customers.

The company provides value-added services designed to prepare metals for customer use. These services include cutting, leveling, slitting, sawing, machining, forming, coating, welding and other fabrication processes.

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