Reliance, Inc. $RS Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its stake in Reliance, Inc. (NYSE:RS) by 20.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,864 shares of the industrial products company’s stock after selling 5,658 shares during the quarter. Royal Bank of Canada’s holdings in Reliance were worth $6,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RS. Parallel Advisors LLC grew its position in Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after buying an additional 31 shares during the period. Venturi Wealth Management LLC lifted its position 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 period. First Citizens Bank & Trust Co. boosted its stake in shares of Reliance by 1.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after acquiring an additional 35 shares in the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Reliance by 4.8% during the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 38 shares in the last quarter. Finally, Root Financial Partners LLC grew its holdings in shares of Reliance by 27.6% in the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Transactions at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the company’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 transaction, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RS. Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Seaport Research Partners upped their target price on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report 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. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $378.67.

Reliance Trading Down 1.2%

Shares of Reliance stock opened at $423.15 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $433.02. The company has a market capitalization of $21.61 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.10 and a beta of 0.96. The business has a 50 day moving average price of $396.98 and a 200 day moving average price of $356.17.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion for 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 quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid 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 dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is presently 29.07%.

About Reliance

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.