Van ECK Associates Corp Sells 1,745 Shares of Reliance, Inc. $RS

Van ECK Associates Corp cut its stake in shares of Reliance, Inc. (NYSE:RS) by 7.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 23,285 shares of the industrial products company’s stock after selling 1,745 shares during the quarter. Van ECK Associates Corp’s holdings in Reliance were worth $8,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Reliance by 6.6% in the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock valued at $4,364,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC lifted its holdings in Reliance by 4.8% during the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 258 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares during the last quarter. Walleye Capital LLC boosted its stake in Reliance by 2,192.5% in the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 1,162 shares during the period. Finally, Marshall Wace LLP bought a new stake in Reliance in the 2nd quarter valued at $1,318,000. Institutional investors own 79.26% of the company’s stock.

Insider Activity

In other Reliance news, 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 value of $902,242.00. Following the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 approximately $8,033,188.74. This trade represents 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 Price Performance

Shares of NYSE RS opened at $390.26 on Wednesday. The business has a fifty day moving average price of $396.69 and a two-hundred day moving average price of $362.73. The stock has a market capitalization of $19.93 billion, a PE ratio of 22.69, a P/E/G ratio of 0.99 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, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02.

Reliance (NYSE:RS) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (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 company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the firm posted $4.43 EPS. Reliance’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. As a group, equities analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, August 14th. Reliance’s dividend payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

RS has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Wells Fargo & Company decreased their price target on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research note on Monday, August 24th. BMO Capital Markets raised their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, Reliance currently has a consensus rating of “Hold” and a consensus target price of $377.50.

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.