Denali Advisors LLC Takes $637,000 Position in Reliance, Inc. $RS

Denali Advisors LLC acquired a new position in Reliance, Inc. (NYSE:RS) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,704 shares of the industrial products company’s stock, valued at approximately $637,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Wealth LLC acquired a new position in Reliance in the 2nd quarter worth approximately $231,000. Chancellor Financial Group WB LP acquired a new stake in Reliance during the 2nd quarter valued at approximately $747,000. Danske Bank A S acquired a new stake in Reliance during the 2nd quarter valued at approximately $25,537,000. Wealthfront Advisers LLC purchased a new stake in shares of Reliance in the 2nd quarter valued at $208,000. Finally, Foster & Motley Inc. acquired a new stake in shares of Reliance in the second quarter worth $3,426,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Down 4.3%

RS opened at $381.95 on Friday. The company has a fifty day moving average of $399.32 and a two-hundred day moving average of $360.46. The stock has a market capitalization of $19.50 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.03 and a beta of 0.96. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30.

Reliance (NYSE:RS) last posted 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 net margin of 5.65% and a return on equity of 12.51%. The business 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 company posted $4.43 EPS. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, research analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s dividend payout ratio is currently 29.07%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. JPMorgan Chase & Co. reduced their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. BMO Capital Markets upped their target price on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, KeyCorp lifted 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. One 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 company. According to data from MarketBeat.com, Reliance presently has an average rating of “Hold” and an average price target of $378.67.

Insider Buying and Selling

In other news, 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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.