Public Employees Retirement System of Ohio Invests $6.88 Million in Reliance, Inc. $RS

Public Employees Retirement System of Ohio purchased a new position in Reliance, Inc. (NYSE:RS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,411 shares of the industrial products company’s stock, valued at approximately $6,878,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Costello Asset Management INC acquired a new stake in Reliance during the first quarter worth about $30,000. Brown Brothers Harriman & Co. raised its position 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 valued at $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in shares of Reliance in the 4th quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of Reliance during the 3rd quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Price Performance

Shares of NYSE:RS opened at $390.26 on Wednesday. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 22.69, 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 firm has a 50 day simple moving average of $396.69 and a 200 day simple moving average of $362.73. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the business posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research 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. Investors of record on Friday, August 14th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is 29.07%.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was 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 approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective 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. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Citigroup reiterated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. BMO Capital Markets boosted their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.