Reliance, Inc. $RS Shares Sold by Cambria Investment Management L.P.

Cambria Investment Management L.P. cut its stake in Reliance, Inc. (NYSE:RS) by 6.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 34,264 shares of the industrial products company’s stock after selling 2,352 shares during the quarter. Cambria Investment Management L.P.’s holdings in Reliance were worth $9,622,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RS. State Street Corp lifted its position in shares of Reliance by 6.8% in the third quarter. State Street Corp now owns 2,597,755 shares of the industrial products company’s stock valued at $729,528,000 after acquiring an additional 166,214 shares in the last quarter. Boston Partners lifted its holdings in Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Wellington Management Group LLP boosted its stake in Reliance by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after purchasing an additional 343,598 shares during the last quarter. Franklin Resources Inc. boosted its stake in Reliance by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,142,551 shares of the industrial products company’s stock worth $320,863,000 after purchasing an additional 51,894 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Reliance by 4.2% during the third quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock worth $212,243,000 after buying an additional 30,765 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Down 0.9%

Shares of RS opened at $296.25 on Thursday. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $323.40 and a two-hundred day simple moving average of $297.49. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $365.59. The company has a market capitalization of $15.32 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.13 and a beta of 0.91.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, February 18th. The industrial products company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.40). Reliance had a net margin of 5.17% and a return on equity of 10.45%. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. As a group, equities analysts forecast that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This is an increase from Reliance’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.7%. Reliance’s payout ratio is presently 35.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RS. Wall Street Zen cut shares of Reliance from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Wells Fargo & Company upped their price objective on shares of Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. BMO Capital Markets downgraded shares of Reliance from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $340.00 to $320.00 in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research note on Monday, December 29th. Finally, Zacks Research upgraded Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Reliance currently has an average rating of “Hold” and a consensus price target of $324.33.

Insider Buying and Selling

In other news, SVP William A. Smith II sold 6,615 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $298.61, for a total value of $1,975,305.15. Following the transaction, the senior vice president directly owned 21,747 shares in the company, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the transaction, the chief operating officer owned 14,021 shares in the company, valued at $4,509,434.02. This trade represents a 63.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.35% of the stock is currently owned by insiders.

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.