OMERS ADMINISTRATION Corp Boosts Stock Position in Reliance, Inc. $RS

OMERS ADMINISTRATION Corp lifted its holdings in Reliance, Inc. (NYSE:RS) by 204.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,233 shares of the industrial products company’s stock after buying an additional 5,531 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Reliance were worth $2,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in Reliance in the first quarter worth $30,000. Brown Brothers Harriman & Co. lifted its position in shares of Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Greenline Wealth Management LLC purchased a new stake in shares of Reliance during the fourth quarter valued at $32,000. Quarry LP purchased a new stake in shares of Reliance during the third quarter valued at $32,000. Finally, Parkside Financial Bank & Trust increased its stake in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after buying an additional 55 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Performance

Shares of Reliance stock opened at $414.53 on Wednesday. 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 capitalization of $21.16 billion, a PE ratio of 24.10, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a 50-day simple moving average of $388.97 and a two-hundred day simple moving average of $349.34. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $4.43 EPS. The business’s quarterly revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts expect that Reliance, Inc. will post 19.84 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced 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 of this dividend is Friday, August 14th. Reliance’s payout ratio is currently 29.07%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RS shares. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. BMO Capital Markets increased their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday. Seaport Research Partners raised their price target on 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 report on Monday, May 18th. Finally, KeyCorp upped their price objective on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $378.67.

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.