Twin Lakes Capital Management LLC Takes $614,000 Position in Reliance, Inc. $RS

Twin Lakes Capital Management LLC acquired a new position in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,645 shares of the industrial products company’s stock, valued at approximately $614,000.

A number of other hedge funds have also bought and sold shares of RS. Empowered Funds LLC bought a new stake in Reliance during the second quarter valued at $10,107,000. United Capital Financial Advisors LLC acquired a new stake in Reliance during the 2nd quarter worth about $690,000. Dearborn Partners LLC bought a new position in shares of Reliance in the 2nd quarter worth about $9,014,000. Caitlin John LLC bought a new position in shares of Reliance in the 2nd quarter worth about $375,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Reliance in the 2nd quarter valued at about $6,878,000. Institutional investors own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RS shares. Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Wells Fargo & Company lowered their target price on Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a report on Monday, August 24th. KeyCorp boosted their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Finally, Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $377.50.

Insider Buying and Selling

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

Reliance Price Performance

RS stock opened at $387.57 on Friday. The stock has a market capitalization of $19.79 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. The company’s 50-day moving average is $397.24 and its 200-day moving average is $362.24. 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.

Reliance (NYSE:RS) last issued 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. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the company posted $4.43 EPS. The firm’s revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. 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.