Flputnam Investment Management Co. Purchases New Shares in Reliance, Inc. $RS

Flputnam Investment Management Co. acquired a new stake in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, Holdings Channel reports. The firm acquired 1,550 shares of the industrial products company’s stock, valued at approximately $579,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Reliance in the 4th quarter worth about $207,691,000. Boston Partners lifted its holdings in shares of Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after acquiring an additional 484,286 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Reliance in the 2nd quarter valued at about $176,913,000. Wellington Management Group LLP grew its position in Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after acquiring an additional 343,598 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in Reliance by 1,019.0% in the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after acquiring an additional 311,323 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen cut Reliance from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a research note on Thursday. Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a report on Thursday, April 30th. Seaport Research Partners boosted their target price on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $378.67.

Reliance Stock Performance

Shares of NYSE:RS opened at $427.86 on Tuesday. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.10 and a beta of 0.96. The firm’s 50-day moving average is $399.45 and its 200 day moving average is $358.94.

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, topping 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 business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm earned $4.43 earnings per share. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts predict that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

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

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the transaction, the senior vice president 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction on Friday, July 31st. The stock was 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 owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by insiders.

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.