Evolve Private Wealth LLC Invests $2.44 Million in Reliance, Inc. $RS

Evolve Private Wealth LLC acquired a new stake in shares of Reliance, Inc. (NYSE:RS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,529 shares of the industrial products company’s stock, valued at approximately $2,439,000.

Other large investors have also modified their holdings of the company. Farringdon Capital Ltd. bought a new position in Reliance in the second quarter worth $268,000. XXEC Inc. acquired a new position in shares of Reliance in the 2nd quarter valued at $127,493,000. Westpac Banking Corp acquired a new position in shares of Reliance in the 2nd quarter valued at $330,000. William Blair Investment Management LLC bought a new position in shares of Reliance during the 2nd quarter worth about $142,900,000. Finally, Korea Investment CORP bought a new position in shares of Reliance during the 2nd quarter worth about $24,239,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $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 owned by corporate insiders.

Reliance Trading Up 1.9%

Shares of Reliance stock opened at $387.58 on Friday. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02. The stock has a market capitalization of $19.79 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. The company has a 50-day simple moving average of $398.80 and a 200 day simple moving average of $360.65. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 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 analyst estimates 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 period in the previous year, the business earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current fiscal 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 given a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s dividend payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RS. KeyCorp upped their target price on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Seaport Research Partners raised their price target on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a report on Sunday. JPMorgan Chase & Co. lowered their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average 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.