Caisse de depot et placement du Quebec Invests $44.67 Million in Reliance, Inc. $RS

Caisse de depot et placement du Quebec acquired a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, Holdings Channel reports. The firm acquired 119,576 shares of the industrial products company’s stock, valued at approximately $44,674,000.

A number of other institutional investors also recently modified their holdings of RS. XXEC Inc. acquired a new position in shares of Reliance during the second quarter valued at about $127,493,000. BlackRock Inc. bought a new stake in Reliance in the 2nd quarter valued at about $2,171,081,000. State Street Corp raised its stake in Reliance by 4.5% during the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after buying an additional 118,009 shares during the period. Boston Partners boosted its holdings in Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after acquiring an additional 343,598 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In other news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the firm’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 directly owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RS shares. Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. KeyCorp upped their price objective on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. BMO Capital Markets raised their price objective on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. One 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $377.50.

Reliance Price Performance

Shares of NYSE:RS opened at $391.61 on Friday. The company has a market capitalization of $20.00 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. The company’s 50-day moving average is $397.42 and its 200 day moving average is $362.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm posted $4.43 earnings per share. The company’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 forecast that Reliance, Inc. will post 22.23 earnings per share 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%.

Reliance Company Profile

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.