Vise Technologies Inc. Buys New Holdings in Reliance, Inc. $RS

Vise Technologies Inc. purchased a new position in Reliance, Inc. (NYSE:RS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,539 shares of the industrial products company’s stock, valued at approximately $1,322,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RS. Arjuna Capital purchased a new position in Reliance during the fourth quarter valued at $1,838,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of Reliance during the 4th quarter valued at about $61,317,000. Forsta AP Fonden bought a new position in shares of Reliance during the 4th quarter valued at about $2,022,000. Fulcrum Wealth Advisors LLC purchased a new position in shares of Reliance during the fourth quarter valued at about $2,529,000. Finally, Bank of America Corp DE increased its holdings in shares of Reliance by 4.9% in the first quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock worth $79,989,000 after purchasing an additional 12,282 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RS shares. 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. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. decreased their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Wells Fargo & Company increased their target price on Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $378.67.

Insider Transactions at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Reliance Trading Up 1.9%

Shares of NYSE RS opened at $387.58 on Friday. 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 business’s 50 day moving average price is $398.80 and its 200-day moving average price is $360.65. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.00 and a beta of 0.96.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.Reliance’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, sell-side analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

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

Reliance 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.