Foster & Motley Inc. Makes New $3.43 Million Investment in Reliance, Inc. $RS

Foster & Motley Inc. acquired a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,171 shares of the industrial products company’s stock, valued at approximately $3,426,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Reliance during the 2nd quarter worth approximately $2,171,081,000. State Street Corp increased its holdings in shares of Reliance by 4.5% during the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after buying an additional 118,009 shares during the last quarter. Boston Partners grew its position in Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares during the period. Wellington Management Group LLP raised its position in Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after purchasing an additional 343,598 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Reliance by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock worth $270,349,000 after purchasing an additional 2,549 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction dated 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. The trade was a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the 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 approximately $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company’s stock.

Reliance Stock Performance

Shares of RS opened at $421.28 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $399.83 and a 200-day simple moving average of $359.62. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $433.02. The company has a market capitalization of $21.51 billion, a PE ratio of 24.49, a P/E/G ratio of 1.10 and a beta of 0.96.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS 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 business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the company earned $4.43 EPS. The company’s quarterly revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company 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 1.2%. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Analyst Ratings Changes

Several equities analysts recently issued reports on RS shares. BMO Capital Markets increased their target price on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. KeyCorp increased their price target on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Reliance from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Bank of America downgraded shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research report on Thursday, April 30th. Finally, Wells Fargo & Company raised their price objective on Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $378.67.

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.