Public Employees Retirement System of Ohio Sells 1,334 Shares of Reliance, Inc. $RS

Public Employees Retirement System of Ohio cut its position in shares of Reliance, Inc. (NYSE:RS) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,084 shares of the industrial products company’s stock after selling 1,334 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Reliance were worth $6,408,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RS. Costello Asset Management INC bought a new position in Reliance during the first quarter valued at approximately $30,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Quarry LP purchased a new stake in shares of Reliance in the 3rd quarter valued at $32,000. Greenline Wealth Management LLC purchased a new stake in shares of Reliance in the 4th quarter valued at $32,000. Finally, Parkside Financial Bank & Trust grew its holdings 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 valued at $34,000 after purchasing an additional 55 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Trading Up 2.5%

Shares of RS opened at $414.53 on Wednesday. The stock has a market capitalization of $21.16 billion, a P/E ratio of 24.10, a PEG ratio of 1.16 and a beta of 0.97. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $419.83. 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 firm has a fifty day simple moving average of $388.97 and a two-hundred day simple moving average of $349.34.

Reliance (NYSE:RS) last released its quarterly earnings data 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 firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, research analysts anticipate that Reliance, Inc. will post 19.84 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s payout ratio is currently 29.07%.

Analysts Set New Price Targets

RS has been the subject of several recent research reports. The Goldman Sachs Group started coverage on shares of Reliance in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target for the company. BMO Capital Markets lifted their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday. Wells Fargo & Company boosted their target price on Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.