Redwood Investment Management LLC Purchases Shares of 3,115 Reliance, Inc. $RS

Redwood Investment Management LLC acquired a new position in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,115 shares of the industrial products company’s stock, valued at approximately $1,164,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RS. Royal Bank of Canada lifted its position in shares of Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after buying an additional 940 shares during the period. Empowered Funds LLC increased its position in Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after acquiring an additional 258 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Reliance by 99.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares during the last quarter. Walleye Capital LLC raised its position in shares of Reliance by 2,192.5% during the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock worth $381,000 after acquiring an additional 1,162 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Reliance during the 2nd quarter worth about $1,318,000. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

RS stock opened at $390.63 on Thursday. The stock has a 50-day moving average price of $397.51 and a two-hundred day moving average price of $361.79. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $433.02. The stock has a market cap of $19.95 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.96. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last issued 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 company had revenue of $4.63 billion for 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 company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts forecast that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

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

Insider Buying and Selling

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RS. Bank of America downgraded 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. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday. KeyCorp lifted their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Reliance has an average rating of “Hold” and a consensus target price of $377.50.

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.