Dearborn Partners LLC Takes $7.35 Million Position in Reliance, Inc. $RS

Dearborn Partners LLC bought a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, Holdings Channel.com reports. The fund bought 24,175 shares of the industrial products company’s stock, valued at approximately $7,347,000.

Other large investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in Reliance in the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of Reliance during the 2nd quarter valued at about $37,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new stake in shares of Reliance in the fourth quarter worth approximately $32,000. Finally, Quarry LP acquired a new stake in shares of Reliance in the third quarter worth approximately $32,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president 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 SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

Reliance Stock Performance

Shares of RS stock opened at $382.26 on Tuesday. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The company has a market cap of $19.52 billion, a PE ratio of 22.22, a P/E/G ratio of 1.00 and a beta of 0.96. The company’s fifty day simple moving average is $398.33 and its 200-day simple moving average is $361.18. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $433.02.

Reliance (NYSE:RS) last announced its quarterly earnings results 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 net margin of 5.65% and a return on equity of 12.51%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the company earned $4.43 EPS. The firm’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts anticipate that Reliance, Inc. will post 22.23 EPS 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 given a $1.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. Reliance’s dividend payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

RS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price 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. Citigroup reiterated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Wells Fargo & Company lowered their price objective on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research note on Monday. Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $377.50.

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.