Kingsview Wealth Management LLC Takes Position in Reliance, Inc. $RS

Kingsview Wealth Management LLC purchased a new stake in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, Holdings Channel reports. The fund purchased 3,096 shares of the industrial products company’s stock, valued at approximately $1,157,000.

A number of other hedge funds have also bought and sold shares of the company. PFA Pension Forsikringsaktieselskab bought a new position in shares of Reliance during the fourth quarter valued at approximately $61,317,000. Arjuna Capital purchased a new position in Reliance during the 4th quarter valued at $1,838,000. Forsta AP Fonden bought a new position in Reliance in the 4th quarter valued at $2,022,000. Fulcrum Wealth Advisors LLC bought a new position in Reliance in the 4th quarter valued at $2,529,000. Finally, Versor Investments LP purchased a new stake in Reliance in the fourth quarter worth $399,000. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Down 1.1%

Shares of Reliance stock opened at $387.57 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96. The firm’s 50-day moving average is $397.24 and its two-hundred day moving average is $362.24. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $433.02.

Reliance (NYSE:RS) last announced its quarterly earnings results 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 net margin of 5.65% and a return on equity of 12.51%. The firm 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. The company’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. As a group, research analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction 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 $6,004,010.40. This trade represents a 13.06% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on RS shares. Citigroup reiterated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Wells Fargo & Company reduced their price target on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research note on Monday, August 24th. KeyCorp lifted their price objective on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. BMO Capital Markets upped their target price 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, Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus 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.