Manning & Napier Advisors LLC Makes New Investment in Reliance, Inc. $RS

Manning & Napier Advisors LLC acquired a new stake in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, Holdings Channel reports. The fund acquired 6,858 shares of the industrial products company’s stock, valued at approximately $2,568,000.

Several other institutional investors have also recently made changes to their positions in RS. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Reliance in the 4th quarter worth $61,317,000. Arjuna Capital bought a new position in shares of Reliance during the fourth quarter valued at approximately $1,838,000. Forsta AP Fonden bought a new position in Reliance in the 4th quarter valued at $2,022,000. Fulcrum Wealth Advisors LLC purchased a new stake in Reliance in the fourth quarter worth $2,529,000. Finally, Versor Investments LP purchased a new stake in Reliance in the fourth quarter worth $399,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Transactions at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% 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 insiders.

Reliance Price Performance

NYSE:RS opened at $384.48 on Wednesday. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. 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 $19.63 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 0.98 and a beta of 0.96. The firm’s fifty day moving average is $397.77 and its two-hundred day moving average is $361.45.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating 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 company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business earned $4.43 earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts expect that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is 29.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RS shares. Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. KeyCorp increased their price objective on shares of 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 Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. BMO Capital Markets lifted their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.