Vise Technologies Inc. Acquires New Shares in Reliance, Inc. $RS

Vise Technologies Inc. acquired a new position in Reliance, Inc. (NYSE:RS) in the second quarter, HoldingsChannel reports. The fund acquired 3,539 shares of the industrial products company’s stock, valued at approximately $1,322,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Reliance in the 2nd quarter valued at about $2,171,081,000. State Street Corp increased its holdings in Reliance by 4.5% during the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock valued at $784,503,000 after buying an additional 118,009 shares during the period. Boston Partners raised its stake 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 buying an additional 484,286 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after buying an additional 343,598 shares during the period. Finally, Geode Capital Management LLC boosted its position in Reliance by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock valued at $270,349,000 after acquiring an additional 2,549 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling

In other news, SVP William A. Smith II sold 2,353 shares of the business’s 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 sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $902,242.00. Following the completion of the transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. KeyCorp boosted their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. BMO Capital Markets increased their price target on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a research note on Thursday, April 30th. One equities 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $378.67.

Reliance Stock Up 1.9%

Shares of RS stock opened at $387.58 on Friday. The stock’s fifty day moving average price is $398.80 and its 200 day moving average price is $360.65. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27.

Reliance (NYSE:RS) last issued 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 return on equity of 12.51% and a net margin of 5.65%.The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the company earned $4.43 earnings per share. 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. On average, research analysts expect 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. Shareholders of record on Friday, August 14th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s dividend payout ratio is presently 29.07%.

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.