Sanctuary Advisors LLC Takes $1.09 Million Position in Reliance, Inc. $RS

Sanctuary Advisors LLC bought a new position in shares of Reliance, Inc. (NYSE:RS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,920 shares of the industrial products company’s stock, valued at approximately $1,091,000.

Several other hedge funds have also recently modified their holdings of the stock. XXEC Inc. acquired a new stake in Reliance in the 2nd quarter worth about $127,493,000. BlackRock Inc. purchased a new stake in Reliance during the 2nd quarter worth approximately $2,171,081,000. State Street Corp raised its holdings in shares of Reliance by 4.5% during the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock valued at $784,503,000 after acquiring an additional 118,009 shares during the last quarter. Boston Partners raised its holdings in shares of Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after acquiring an additional 484,286 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after acquiring an additional 343,598 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Trading Up 0.1%

Shares of Reliance stock opened at $391.61 on Friday. The stock has a market cap of $20.00 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.01 and a beta of 0.96. The stock’s 50 day simple moving average is $397.42 and its 200-day simple moving average is $362.06. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02. 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 (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating 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 firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter last year, the firm earned $4.43 earnings per share. The business’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. Analysts predict that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio is presently 29.07%.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction dated 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 owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on RS shares. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a research note on Thursday, April 30th. BMO Capital Markets lifted their target price on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. KeyCorp upped their target price on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Finally, Citigroup reiterated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. 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 given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $377.50.

About Reliance

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.