Wellington Management Group LLP Sells 111,125 Shares of Reliance, Inc. $RS

Wellington Management Group LLP lessened its position in shares of Reliance, Inc. (NYSE:RS) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,330,345 shares of the industrial products company’s stock after selling 111,125 shares during the period. Wellington Management Group LLP owned 2.61% of Reliance worth $497,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Reliance by 6.6% during the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock valued at $4,364,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC boosted its position in Reliance by 4.8% during the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Reliance by 99.2% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares in the last quarter. Walleye Capital LLC increased its stake in shares of Reliance by 2,192.5% in the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Reliance in the second quarter valued at approximately $1,318,000. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RS. JPMorgan Chase & Co. dropped their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. KeyCorp increased their target price on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 23rd. Finally, Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $377.50.

Reliance Stock Performance

Reliance stock opened at $387.57 on Friday. The firm’s 50 day simple moving average is $397.24 and its 200 day simple moving average is $362.24. 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 firm has a market capitalization of $19.79 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. Reliance’s dividend payout ratio (DPR) is 29.07%.

Insider Buying and Selling at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 sale, 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 SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

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.