Chancellor Financial Group WB LP Buys Shares of 2,000 Reliance, Inc. $RS

Chancellor Financial Group WB LP purchased a new position in Reliance, Inc. (NYSE:RS) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,000 shares of the industrial products company’s stock, valued at approximately $747,000.

A number of other large investors have also made changes to their positions in RS. BlackRock Inc. purchased a new stake in shares of Reliance during the 2nd quarter valued at $2,171,081,000. Norges Bank acquired a new stake in shares of Reliance in the 4th quarter worth $207,691,000. Boston Partners grew its stake in Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after buying an additional 484,286 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Reliance during the 2nd quarter worth $176,913,000. Finally, Wellington Management Group LLP increased its position 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 valued at $479,870,000 after buying an additional 343,598 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of research analyst reports. KeyCorp increased their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Wall Street Zen lowered Reliance from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Citigroup restated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. BMO Capital Markets increased their price objective on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Reliance currently has an average rating of “Hold” and an average target price of $378.67.

Reliance Stock Down 1.6%

Reliance stock opened at $421.28 on Wednesday. The business’s 50-day simple moving average is $399.83 and its two-hundred day simple moving average is $359.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The company has a market cap of $21.51 billion, a PE ratio of 24.49, a PEG ratio of 1.10 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.

Reliance (NYSE:RS) last announced its quarterly earnings data 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 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 period last year, the business posted $4.43 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

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 of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Insider Buying and Selling

In other news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction 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 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction 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 sale, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. The trade was a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.