Legal & General Group Plc Makes New $77.09 Million Investment in Reliance, Inc. $RS

Legal & General Group Plc acquired a new position in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 206,349 shares of the industrial products company’s stock, valued at approximately $77,092,000.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new position in shares of Reliance in the 2nd quarter valued at $8,808,000. Manning & Napier Advisors LLC purchased a new stake in Reliance in the second quarter valued at $2,568,000. Dearborn Partners LLC acquired a new position in Reliance in the second quarter valued at $7,347,000. TCM Advisors LLC acquired a new position in Reliance in the second quarter valued at $1,345,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Reliance during the second quarter worth about $3,522,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling

In other news, SVP William A. Smith II sold 2,353 shares of the business’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 value of $974,636.13. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the company’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 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. This trade represents a 13.06% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

Reliance Trading Up 0.1%

NYSE RS opened at $391.61 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The firm has a market cap of $20.00 billion, a PE ratio of 22.77, a P/E/G ratio of 1.01 and a beta of 0.96. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The firm’s fifty day moving average is $397.42 and its two-hundred day moving average is $362.06.

Reliance (NYSE:RS) last announced its 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. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the company earned $4.43 earnings per share. The business’s revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Dividend Announcement

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 paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s dividend payout ratio is currently 29.07%.

Analyst Ratings Changes

A number of analysts have recently commented on RS shares. Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company decreased their price objective on Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.