Squarepoint Ops LLC Grows Holdings in Reliance, Inc. $RS

Key Points

• Squarepoint Ops increased its Reliance stake by 62.8% in the second quarter, owning 15,445 shares worth approximately $5.77 million. Institutional investors and hedge funds collectively own 79.26% of the company.
• Reliance reported strong quarterly results, with EPS of $6.27 versus the $5.47 consensus and revenue of $4.63 billion, up 26.5% year over year. The company guided to third-quarter EPS of $6.40–$6.60.
• Shares opened at $393.90, while analysts maintained a generally cautious stance: the stock has a consensus “Hold” rating and a $379.83 price target. Reliance also pays a quarterly dividend of $1.25 per share, yielding about 1.3%.

Squarepoint Ops LLC lifted its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 62.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,445 shares of the industrial products company's stock after buying an additional 5,958 shares during the quarter. Squarepoint Ops LLC's holdings in Reliance were worth $5,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. grew its holdings in Reliance by 28.4% during the 2nd 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 in the last quarter. Allworth Financial LP raised its stake in shares of Reliance by 41.1% in the 2nd quarter. Allworth Financial LP now owns 285 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 83 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Reliance by 3.1% in 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 purchasing an additional 440 shares in the last quarter. Nykredit A S bought a new position in shares of Reliance during the second quarter worth about $5,247,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Reliance during the second quarter worth about $24,886,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Reliance

In other 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 completion of the transaction, the chief financial officer owned 14,640 shares of the company's stock, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP William Smith, II sold 2,353 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

Reliance Price Performance

RS opened at $393.90 on Friday. 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's 50-day moving average price is $399.24 and its 200 day moving average price is $365.90. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 0.99 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 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. The company 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 business's revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts expect that Reliance, Inc. will post 22.53 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 14th. Reliance's dividend payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RS. Zacks Research raised Reliance from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their target price on Reliance from $398.00 to $390.00 and set a "neutral" rating for the company in a research report on Wednesday. BMO Capital Markets boosted their price target on Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Reliance in a research report on Thursday, August 13th. Finally, Wall Street Zen cut Reliance from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $379.83.

Reliance Company Profile

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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