Plato Investment Management Ltd Purchases New Holdings in Reliance, Inc. $RS

Plato Investment Management Ltd acquired a new position in Reliance, Inc. (NYSE:RS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,943 shares of the industrial products company’s stock, valued at approximately $1,836,000.

Several other large investors have also modified their holdings of the business. Costello Asset Management INC purchased a new stake in shares of Reliance in the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. lifted its stake in shares of Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in Reliance during the 4th quarter valued at $32,000. Quarry LP purchased a new stake in Reliance in the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

In other news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were 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 in the company, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction that occurred on Tuesday, July 28th. The shares were 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 in the company, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RS. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. 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 report on Wednesday, July 15th. KeyCorp upped their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company raised their target price on shares of Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $378.67.

Reliance Stock Performance

Shares of Reliance stock opened at $427.86 on Tuesday. The firm has a market cap of $21.85 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.10 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, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The stock’s fifty day moving average price is $399.45 and its 200-day moving average price is $358.94.

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

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s payout ratio is currently 29.07%.

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.