Dearborn Partners LLC Buys New Stake in Reliance, Inc. $RS

Dearborn Partners LLC bought a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 24,128 shares of the industrial products company’s stock, valued at approximately $9,014,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Costello Asset Management INC acquired a new position in shares of Reliance during the first quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Reliance during the 2nd quarter valued at $37,000. Brown Brothers Harriman & Co. lifted its holdings 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 valued at $31,000 after purchasing an additional 50 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Reliance in the 2nd quarter worth $41,000. Finally, Greenline Wealth Management LLC acquired a new stake in shares of Reliance in the 4th quarter worth $32,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on RS shares. JPMorgan Chase & Co. reduced their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. KeyCorp raised their price target on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 23rd. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, Reliance currently has an average rating of “Hold” and an average target price of $377.50.

Reliance Price Performance

Shares of RS opened at $391.61 on Friday. The firm has a market capitalization of $20.00 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02. The company’s fifty day moving average price is $397.42 and its 200-day moving average price is $362.06.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business posted $4.43 EPS. 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 predict that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio is currently 29.07%.

Insider Activity

In related 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 value of $902,242.00. Following the transaction, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company’s stock.

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.