The Manufacturers Life Insurance Company Acquires New Position in Reliance, Inc. $RS

The Manufacturers Life Insurance Company purchased a new position in Reliance, Inc. (NYSE:RS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,577 shares of the industrial products company’s stock, valued at approximately $8,808,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position 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 purchasing an additional 31 shares during the period. Venturi Wealth Management LLC increased its holdings in 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. raised its position in shares of Reliance by 1.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 35 shares during the last quarter. Kathmere Capital Management LLC raised its holdings 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 during the last quarter. Finally, Root Financial Partners LLC raised its stake in 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 purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. 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 report on Wednesday, June 24th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $377.50.

Reliance Stock Down 1.1%

Reliance stock opened at $387.57 on Friday. 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, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The stock has a 50-day simple moving average of $397.24 and a 200-day simple moving average of $362.24. The company has a market capitalization of $19.79 billion, a P/E ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the firm posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Reliance’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 directly owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by company insiders.

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.