Reliance, Inc. $RS Stake Cut by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of Reliance, Inc. (NYSE:RS) by 95.5% in the first quarter, HoldingsChannel reports. The fund owned 2,303 shares of the industrial products company’s stock after selling 48,512 shares during the quarter. Edgestream Partners L.P.’s holdings in Reliance were worth $700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in shares of Reliance in the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new stake in shares of Reliance during the fourth quarter worth approximately $32,000. Quarry LP acquired a new stake in shares of Reliance during the third quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust grew its position in Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

In other Reliance news, 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 in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 2,200 shares of the 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 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 SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

Reliance Trading Up 1.5%

NYSE:RS opened at $415.72 on Wednesday. The stock’s 50 day moving average price is $392.97 and its 200 day moving average price is $352.73. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $419.83. The company has a market capitalization of $21.23 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.10 and a beta of 0.96. 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 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. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, research analysts forecast that Reliance, Inc. will post 21.33 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. lowered their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. BMO Capital Markets upped their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, Seaport Research Partners lifted their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Reliance presently has an average rating of “Hold” and an average price target 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.