Raiffeisen Bank International AG Reduces Holdings in Reliance, Inc. $RS

Raiffeisen Bank International AG trimmed its holdings in shares of Reliance, Inc. (NYSE:RS) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,087 shares of the industrial products company’s stock after selling 2,675 shares during the quarter. Raiffeisen Bank International AG’s holdings in Reliance were worth $1,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in Reliance in the first quarter worth approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Reliance during the 2nd quarter valued at $37,000. Brown Brothers Harriman & Co. increased its stake in shares of Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Reliance in the 2nd quarter worth $41,000. Finally, Greenline Wealth Management LLC bought a new position in Reliance in the 4th quarter worth $32,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Price Performance

RS stock opened at $401.15 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 company’s fifty day moving average price is $396.94 and its 200-day moving average price is $363.68. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The company has a market capitalization of $20.48 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (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 the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. Reliance’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 firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts anticipate 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 was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Reliance’s payout ratio is 29.07%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RS shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Wall Street Zen cut Reliance from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 31st. KeyCorp boosted their price objective on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. One 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $377.50.

Insider Activity

In related news, SVP William A. Smith II sold 2,353 shares of the 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 represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company’s stock.

Reliance 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.