Commerce Bank Makes New Investment in Reliance, Inc. $RS

Commerce Bank purchased a new position in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 3,159 shares of the industrial products company’s stock, valued at approximately $1,180,000.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its stake in Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock valued at $580,000 after buying an additional 31 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Reliance by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock worth $1,209,000 after acquiring an additional 34 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Reliance by 1.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after acquiring an additional 35 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in shares of Reliance by 4.8% in the 1st 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 during the last quarter. Finally, Root Financial Partners LLC increased its holdings in shares of Reliance by 27.6% in the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 40 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company’s stock.

Reliance Price Performance

Shares of RS opened at $384.48 on Wednesday. The company has a market cap of $19.63 billion, a P/E ratio of 22.35, a PEG ratio of 0.98 and a beta of 0.96. The stock has a fifty day moving average price of $397.77 and a 200 day moving average price of $361.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02.

Reliance (NYSE:RS) last posted its earnings results 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 company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the business posted $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. On average, research analysts forecast that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RS shares. Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Seaport Research Partners increased their target price on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. KeyCorp raised their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Wells Fargo & Company lowered their price objective on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, 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 research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $377.50.

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.