VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Reliance, Inc. $RS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Reliance, Inc. (NYSE:RS) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 66,611 shares of the industrial products company’s stock, valued at approximately $24,886,000.

Several other institutional investors have also recently made changes to their positions in RS. Arjuna Capital acquired a new position in shares of Reliance in the fourth quarter worth about $1,838,000. Forsta AP Fonden purchased a new position in shares of Reliance in the 4th quarter valued at about $2,022,000. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Reliance by 542.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock worth $3,649,000 after purchasing an additional 8,246 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in Reliance in the 4th quarter worth about $24,154,000. Finally, Versor Investments LP purchased a new position in Reliance during the fourth quarter worth approximately $399,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RS. JPMorgan Chase & Co. cut their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. BMO Capital Markets upped their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. KeyCorp boosted 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, Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $377.50.

Reliance Price Performance

Shares of NYSE RS opened at $401.15 on Tuesday. The firm has a 50-day simple moving average of $397.47 and a 200-day simple moving average of $364.25. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $433.02.

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

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Insider Buying and Selling

In other news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction dated 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 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William A. Smith II sold 2,353 shares of the company’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 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.40% of the company’s stock.

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.