Elevation Point Wealth Partners LLC Invests $718,000 in Reliance, Inc. $RS

Elevation Point Wealth Partners LLC acquired a new position in Reliance, Inc. (NYSE:RS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,922 shares of the industrial products company’s stock, valued at approximately $718,000.

Other hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in Reliance during the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. increased its stake in shares of Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of Reliance during the third quarter valued at approximately $32,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Reliance by 87.3% during the fourth 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 institutional investors.

Insider Activity

In other Reliance news, 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 value 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 represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s 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 transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Citigroup reiterated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a report on Thursday, April 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $377.50.

Reliance Price Performance

Shares of NYSE:RS opened at $382.26 on Tuesday. The stock has a market cap of $19.52 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.00 and a beta of 0.96. 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 12 month low of $260.31 and a 12 month high of $433.02. The stock’s 50 day moving average price is $398.33 and its 200 day moving average price is $361.18.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the firm earned $4.43 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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 $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s payout ratio is 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.