Reliance, Inc. $RS Stake Lessened by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its stake in shares of Reliance, Inc. (NYSE:RS) by 21.9% during the second quarter, HoldingsChannel reports. The fund owned 18,026 shares of the industrial products company’s stock after selling 5,064 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Reliance were worth $6,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in shares of Reliance in the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. grew its stake in Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new stake in Reliance in the fourth quarter valued at about $32,000. Quarry LP bought a new stake in Reliance in the third quarter valued at about $32,000. Finally, Parkside Financial Bank & Trust raised its stake in Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after buying an additional 55 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Transactions at Reliance

In other Reliance 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 transaction of $902,242.00. Following the completion of the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 19,394 shares in the company, valued at $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 owned by company insiders.

Reliance Trading Up 0.7%

NYSE:RS opened at $426.53 on Thursday. The firm has a market capitalization of $21.78 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.09 and a beta of 0.96. The business has a 50 day simple moving average of $397.63 and a 200 day simple moving average of $356.87. 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, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02.

Reliance (NYSE:RS) last issued its 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. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period last year, the company earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts predict that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on RS shares. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. KeyCorp upped their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.