PDT Partners LLC Purchases New Shares in Reliance, Inc. $RS

PDT Partners LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,417 shares of the industrial products company’s stock, valued at approximately $14,726,000. Reliance accounts for about 0.8% of PDT Partners LLC’s holdings, making the stock its 22nd largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in shares of Reliance during the first quarter valued at about $30,000. Brown Brothers Harriman & Co. lifted 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 worth $31,000 after acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in shares of Reliance in the fourth quarter worth about $32,000. Quarry LP acquired a new position in shares of Reliance in the third quarter worth about $32,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Reliance by 87.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. KeyCorp increased their target price on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Finally, Seaport Research Partners upped their price target on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus price target of $377.50.

Insider Buying and Selling at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction on 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 sale, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by insiders.

Reliance Stock Up 0.5%

Shares of Reliance stock opened at $384.48 on Wednesday. The business has a 50-day moving average price of $397.77 and a 200 day moving average price of $361.45. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The firm has a market cap of $19.63 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.98 and a beta of 0.96. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the firm earned $4.43 EPS. The business’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. On average, sell-side analysts forecast that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s payout ratio is currently 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.