Northwestern Mutual Wealth Management Co. Purchases New Holdings in Reliance, Inc. $RS

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,526 shares of the industrial products company’s stock, valued at approximately $2,065,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Parallel Advisors LLC increased its stake in Reliance by 1.7% during the 1st quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock valued at $580,000 after purchasing an additional 31 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after buying an additional 34 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Reliance by 1.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 35 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of Reliance by 4.8% during the first quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 38 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in Reliance by 27.6% in the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

RS stock opened at $382.26 on Tuesday. The company has a market capitalization of $19.52 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. The company’s fifty day moving average price is $398.33 and its 200-day moving average price is $361.18. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. 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 (NYSE:RS) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share 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 during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business posted $4.43 earnings per share. The business’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. On average, equities analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio is currently 29.07%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RS. Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. KeyCorp upped their target price on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $377.50.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction on 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 transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated 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 transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $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.

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.