1,760 Shares in Reliance, Inc. $RS Acquired by Odyssean LLC

Odyssean LLC purchased a new stake in Reliance, Inc. (NYSE:RS) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,760 shares of the industrial products company’s stock, valued at approximately $658,000.

Other hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC bought a new stake in shares of Reliance in the 1st quarter worth about $30,000. N.E.W. Advisory Services LLC bought a new position in Reliance during the 2nd quarter valued at about $37,000. Brown Brothers Harriman & Co. boosted its position in Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in Reliance in the fourth quarter valued at about $32,000. Finally, Osterweis Capital Management Inc. bought a new stake in Reliance during the second quarter worth about $41,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 1.8%

Shares of RS opened at $390.63 on Thursday. The business’s fifty day moving average price is $397.51 and its two-hundred day moving average price is $361.79. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.99 and a beta of 0.96. Reliance, Inc. has a 52 week low of $260.31 and a 52 week 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 announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.26 billion. During the same period in the previous year, the business posted $4.43 EPS. The company’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, analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio is currently 29.07%.

Insider Buying and Selling

In other Reliance news, SVP William A. Smith II sold 2,353 shares of Reliance 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 sale, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on RS. Wells Fargo & Company cut their target price on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Citigroup reissued a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and a consensus price target of $377.50.

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.