TCM Advisors LLC Invests $1.34 Million in Reliance, Inc. $RS

Key Points

• TCM Advisors LLC bought a new $1.34 million stake in Reliance, Inc., acquiring 3,600 shares during the second quarter. Institutional investors 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 guided for third-quarter EPS of $6.40–$6.60.
• Reliance declared a quarterly dividend of $1.25 per share, or $5.00 annually, representing a 1.3% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $378.67, below the reported share price of $387.58.

TCM Advisors LLC purchased a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,600 shares of the industrial products company's stock, valued at approximately $1,345,000. Reliance makes up about 0.1% of TCM Advisors LLC's portfolio, making the stock its 11th biggest holding.

Other hedge funds also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in Reliance during the 1st quarter worth $30,000. Brown Brothers Harriman & Co. increased its stake in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after buying an additional 50 shares during the last quarter. Greenline Wealth Management LLC bought a new position in shares of Reliance during the 4th quarter worth approximately $32,000. Quarry LP bought a new stake in Reliance during the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock worth $34,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Stock Down 0.1%

Shares of NYSE RS opened at $387.58 on Monday. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. 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 business's fifty day moving average price is $398.80 and its 200-day moving average price is $360.86. The stock has a market capitalization of $19.79 billion, a PE ratio of 22.53, a P/E/G ratio of 1.00 and a beta of 0.96.

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 for the quarter, topping the consensus estimate of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company earned $4.43 EPS. The firm'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. On average, equities research analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders 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 yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance's dividend payout ratio (DPR) is currently 29.07%.

Insider Activity

In other news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated 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 transaction, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the business's stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on RS shares. Wells Fargo & Company increased their price target on shares of Reliance from $372.00 to $398.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Wall Street Zen raised shares of Reliance from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Zacks Research upgraded shares of Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Seaport Research Partners increased their target price on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Reliance in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Reliance currently has an average rating of "Hold" and an average target price of $378.67.

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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