Royal Bank of Canada Trims Stock Position in Reliance, Inc. $RS

Royal Bank of Canada lessened its stake in Reliance, Inc. (NYSE:RS) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,864 shares of the industrial products company’s stock after selling 5,658 shares during the period. Royal Bank of Canada’s holdings in Reliance were worth $6,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. increased its position in Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after buying an additional 131 shares during the period. Walleye Capital LLC increased its position in Reliance by 2,192.5% during the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock worth $381,000 after buying an additional 1,162 shares during the period. Marshall Wace LLP acquired a new position in Reliance during the second quarter worth approximately $1,318,000. Finally, Cerity Partners LLC lifted its stake in Reliance by 56.6% in the second quarter. Cerity Partners LLC now owns 3,087 shares of the industrial products company’s stock valued at $969,000 after buying an additional 1,116 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Trading Down 1.2%

Shares of RS stock opened at $423.15 on Wednesday. The business’s 50 day moving average is $396.98 and its two-hundred day moving average is $356.17. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $433.02. The company has a market capitalization of $21.61 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96. 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 released 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 during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the business earned $4.43 earnings per share. 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. Equities analysts forecast that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is 29.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Seaport Research Partners increased their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. cut their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. KeyCorp upped their price target on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research note on Thursday, April 30th. Finally, Citigroup reissued a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $378.67.

Insider Buying and Selling at Reliance

In related news, 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 transaction, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction 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. 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.

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.