Man Group plc Purchases Shares of 17,368 Reliance, Inc. $RS

Man Group plc bought a new position in shares of Reliance, Inc. (NYSE:RS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,368 shares of the industrial products company’s stock, valued at approximately $6,489,000.

Other large investors also recently modified their holdings of the company. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Reliance in the fourth quarter worth about $61,317,000. Arjuna Capital purchased a new position in Reliance during the 4th quarter valued at about $1,838,000. Forsta AP Fonden bought a new stake in shares of Reliance during the fourth quarter valued at about $2,022,000. Fulcrum Wealth Advisors LLC bought a new stake in shares of Reliance during the fourth quarter valued at about $2,529,000. Finally, Versor Investments LP purchased a new stake in shares of Reliance in the fourth quarter worth about $399,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RS has been the topic of a number of analyst reports. BMO Capital Markets upped their target price 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. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. KeyCorp boosted their price target on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. decreased their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Finally, Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $377.50.

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Reliance Trading Down 1.1%

RS stock opened at $387.57 on Friday. The company has a market capitalization of $19.79 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The company’s 50 day moving average price is $397.24 and its two-hundred day moving average price is $362.24.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the firm earned $4.43 earnings per share. The company’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. As a group, analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s dividend payout ratio (DPR) is presently 29.07%.

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.