Corient Private Wealth LP Trims Holdings in Reliance, Inc. $RS

Corient Private Wealth LP reduced its holdings in Reliance, Inc. (NYSE:RS) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 328,467 shares of the industrial products company’s stock after selling 19,622 shares during the quarter. Corient Private Wealth LP’s holdings in Reliance were worth $122,715,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of Reliance in the first quarter worth $30,000. Brown Brothers Harriman & Co. increased its stake in shares of Reliance by 86.2% in the 4th 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 purchased a new stake in Reliance in the 4th quarter worth approximately $32,000. Quarry LP bought a new position in shares of Reliance in the third quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Reliance by 87.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of RS stock opened at $393.90 on Friday. 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 $20.11 billion, a P/E ratio of 22.90, a PEG 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. The stock’s 50-day moving average is $399.24 and its 200 day moving average is $365.90.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the previous year, the firm posted $4.43 EPS. The firm’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. Research analysts predict that Reliance, Inc. will post 22.53 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. Reliance’s dividend payout ratio (DPR) is 29.07%.

Wall Street Analysts Forecast Growth

RS has been the topic of a number of analyst reports. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Wall Street Zen downgraded Reliance from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 31st. BMO Capital Markets upped their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $379.83.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the company’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 owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP William A. Smith II sold 2,353 shares of the 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 owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.40% of the company’s stock.

About Reliance

Reliance, Inc (NYSE: RS) is a diversified metals service center company that purchases, processes and distributes metals and related industrial products. Its product portfolio includes carbon steel, aluminum, stainless steel, copper, brass, titanium and other specialty metals.

The company provides value-added processing services such as cutting, leveling, sawing, machining, forming and preparing materials to customer specifications. These services help manufacturers and other commercial users reduce material-handling requirements and obtain metals in ready-to-use forms.

Founded in 1939 and headquartered in Los Angeles, California, Reliance serves customers through a network of operations primarily across North America, with additional international capabilities.