OMERS ADMINISTRATION Corp Invests $3.52 Million in Reliance, Inc. $RS

OMERS ADMINISTRATION Corp acquired a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,427 shares of the industrial products company’s stock, valued at approximately $3,522,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC raised its holdings in Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 31 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after purchasing an additional 34 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in Reliance by 1.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock valued at $588,000 after purchasing an additional 35 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of Reliance by 4.8% during the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 38 shares during the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Reliance by 27.6% during the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In related 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 transaction of $902,242.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president 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 corporate insiders.

Wall Street Analysts Forecast Growth

RS has been the subject of several recent analyst reports. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Seaport Research Partners boosted their target price on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $377.50.

Reliance Stock Performance

RS opened at $384.48 on Wednesday. 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, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02. The business has a 50 day moving average of $397.77 and a 200-day moving average of $361.45. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 0.98 and a beta of 0.96.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the business earned $4.43 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities research analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s payout ratio is currently 29.07%.

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.