Wellington Management Group LLP Sells 111,125 Shares of Reliance, Inc. $RS

Wellington Management Group LLP lowered its stake in shares of Reliance, Inc. (NYSE:RS) by 7.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,330,345 shares of the industrial products company’s stock after selling 111,125 shares during the period. Wellington Management Group LLP’s holdings in Reliance were worth $497,017,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RS. XXEC Inc. purchased a new position in Reliance in the second quarter worth $127,493,000. BlackRock Inc. purchased a new stake in Reliance during the second quarter valued at about $2,171,081,000. Norges Bank bought a new stake in Reliance during the fourth quarter worth about $207,691,000. Boston Partners boosted its holdings in shares of Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Reliance in the 2nd quarter worth about $176,913,000. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RS has been the topic of a number of research reports. Citigroup reissued a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. KeyCorp lifted their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Finally, Wells Fargo & Company cut their price objective on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Reliance has a consensus rating of “Hold” and an average price target of $377.50.

Reliance Stock Performance

Reliance stock opened at $387.57 on Friday. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The firm has a market cap of $19.79 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.00 and a beta of 0.96. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02. The firm has a 50-day moving average of $397.24 and a 200-day moving average of $362.24.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the previous year, the business earned $4.43 EPS. Reliance’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. Sell-side analysts expect that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is presently 29.07%.

Insiders Place Their Bets

In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, 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. Company insiders own 0.40% of the company’s stock.

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.