Mendon Capital Advisors Corp Takes Position in Reliance, Inc. $RS

Mendon Capital Advisors Corp acquired a new position in shares of Reliance, Inc. (NYSE:RS) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,000 shares of the industrial products company’s stock, valued at approximately $6,078,000. Reliance comprises about 1.8% of Mendon Capital Advisors Corp’s holdings, making the stock its 19th biggest position.

A number of other institutional investors have also recently modified their holdings of RS. Parallel Advisors LLC raised its position in Reliance by 1.7% in the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 31 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Reliance by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after acquiring an additional 34 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Reliance by 1.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock valued at $588,000 after purchasing an additional 35 shares during the last quarter. Kathmere Capital Management LLC increased its stake in Reliance by 4.9% during the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 37 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in Reliance by 27.6% during the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock valued at $56,000 after buying an additional 40 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance News Roundup

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Reliance reported Q2 earnings per share of $6.27, ahead of estimates and above management’s prior guidance, while revenue rose 26.5% year over year to $4.63 billion. Article Title
• Positive Sentiment: The company said record quarterly tons sold, stronger customer activity, and firm pricing supported results, with the U.S. border wall project contributing more than expected to earnings. Article Title
• Positive Sentiment: Management issued upbeat Q3 guidance of $6.40 to $6.60 per share, signaling continued momentum after the strong quarter. Article Title
• Neutral Sentiment: Wells Fargo raised its price target on Reliance to $398 from $372 but kept an “equal weight” rating, suggesting improved expectations without a major change in stance. Article Title
• Neutral Sentiment: The company also announced a quarterly dividend of $1.25 per share, reinforcing shareholder returns but not changing the core operating story. Article Title

Wall Street Analyst Weigh In

RS has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Reliance in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price objective for the company. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a research report on Thursday, April 30th. Seaport Research Partners lifted their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company boosted their price objective on Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $367.83.

Reliance Price Performance

RS stock opened at $408.04 on Monday. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83. The firm has a 50-day moving average of $386.93 and a two-hundred day moving average of $347.80. The firm has a market capitalization of $20.83 billion, a PE ratio of 23.72, a P/E/G ratio of 1.17 and a beta of 0.97. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the firm posted $4.43 earnings per share. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts forecast that Reliance, Inc. will post 19.84 earnings per share for the current year.

Reliance Announces Dividend

The company also recently disclosed 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. This represents a $5.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s payout ratio is presently 29.07%.

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.