Focused Alpha LLC Takes Position in Reliance, Inc. $RS

Focused Alpha LLC bought a new stake in Reliance, Inc. (NYSE:RS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,668 shares of the industrial products company’s stock, valued at approximately $623,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RS. Royal Bank of Canada raised its position in Reliance by 6.6% in the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock valued at $4,364,000 after purchasing an additional 940 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after buying an additional 258 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after buying an additional 131 shares in the last quarter. Walleye Capital LLC increased its stake in shares of Reliance by 2,192.5% during the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock worth $381,000 after buying an additional 1,162 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Reliance during the second quarter worth approximately $1,318,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Price Performance

RS stock opened at $427.86 on Tuesday. The business has a 50 day moving average price of $399.45 and a 200 day moving average price of $358.94. The stock has a market cap of $21.85 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.10 and a beta of 0.96. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. 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 (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating 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 company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the firm posted $4.43 earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $1.25 dividend. 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 29.07%.

Insiders Place Their Bets

In related news, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value 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. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RS. KeyCorp lifted their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective on the stock. in a report on Thursday, April 30th. Seaport Research Partners lifted their price objective on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday. One equities 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $378.67.

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.