Freestone Grove Partners LP Acquires New Position in Reliance, Inc. $RS

Freestone Grove Partners LP purchased a new position in Reliance, Inc. (NYSE:RS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,357 shares of the industrial products company’s stock, valued at approximately $2,001,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RS. Caisse de depot et placement du Quebec purchased a new stake in shares of Reliance in the second quarter worth about $44,674,000. Odyssean LLC bought a new position in Reliance during the second quarter valued at approximately $658,000. Man Group plc purchased a new position in Reliance during the 2nd quarter valued at approximately $6,489,000. Jupiter Topco LLC purchased a new position in Reliance during the 2nd quarter valued at approximately $1,084,000. Finally, Hsbc Holdings PLC bought a new stake in Reliance in the 2nd quarter worth approximately $84,764,000. 79.26% of the stock is owned by institutional investors.

Insider Transactions at Reliance

In related news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Reliance Trading Down 1.1%

Shares of RS stock opened at $387.57 on Friday. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $433.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The stock’s 50 day simple moving average is $397.24 and its two-hundred day simple moving average is $362.24. The company has a market cap of $19.79 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 14th. Reliance’s dividend payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RS. Wells Fargo & Company decreased their price objective on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a report on Monday, August 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. BMO Capital Markets upped their price target on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.