Jupiter Topco LLC Purchases Shares of 2,899 Reliance, Inc. $RS

Jupiter Topco LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,899 shares of the industrial products company’s stock, valued at approximately $1,084,000.

Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Reliance by 1.7% in the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock valued at $580,000 after purchasing an additional 31 shares during the period. Venturi Wealth Management LLC lifted 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 worth $1,209,000 after buying an additional 34 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Reliance by 1.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after buying an additional 35 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in Reliance by 4.8% in the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after buying an additional 38 shares during the last quarter. Finally, Root Financial Partners LLC grew its holdings in Reliance by 27.6% in the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock valued at $56,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. KeyCorp raised their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. 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 report on Monday, August 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. One 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, the stock currently has an average rating of “Hold” and an average price target of $377.50.

Reliance Trading Up 0.7%

Shares of RS stock opened at $401.15 on Friday. 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 fifty-two week low of $260.31 and a fifty-two week high of $433.02. The firm’s 50 day moving average price is $396.94 and its two-hundred day moving average price is $363.68. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96.

Reliance (NYSE:RS) last issued 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 for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm posted $4.43 EPS. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.

Insider Activity

In related 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 transaction of $974,636.13. Following the transaction, the senior vice president directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by corporate insiders.

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.