Corient Private Wealth LP Purchases New Shares in Reliance, Inc. $RS

Corient Private Wealth LP purchased a new position in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 347,428 shares of the industrial products company’s stock, valued at approximately $129,799,000.

A number of other large investors also recently added to or reduced their stakes in RS. Bank of America Corp DE purchased a new position in Reliance during the second quarter valued at $98,746,000. Freestone Grove Partners LP purchased a new stake in shares of Reliance during the second quarter worth about $2,001,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Reliance during the second quarter worth about $44,674,000. Odyssean LLC acquired a new position in shares of Reliance during the 2nd quarter worth about $658,000. Finally, Man Group plc acquired a new position in shares of Reliance during the 2nd quarter worth about $6,489,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Performance

NYSE:RS opened at $390.63 on Thursday. The company has a market cap of $19.95 billion, a P/E ratio of 22.71, a P/E/G ratio of 0.99 and a beta of 0.96. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $433.02. The company’s 50-day moving average price is $397.51 and its 200-day moving average price is $361.79. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the company earned $4.43 EPS. Reliance’s 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, sell-side analysts forecast that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio is 29.07%.

Insider Activity at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction that occurred 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 owned 19,394 shares in the company, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RS has been the topic of several research analyst reports. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Wells Fargo & Company decreased their target price on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Bank of America cut Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Reliance currently has a consensus rating of “Hold” and an average price target of $377.50.

Reliance Company 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.