68,354 Shares in Reliance, Inc. $RS Acquired by Danske Bank A S

Danske Bank A S acquired a new stake in shares of Reliance, Inc. (NYSE:RS) during the second quarter, Holdings Channel.com reports. The fund acquired 68,354 shares of the industrial products company’s stock, valued at approximately $25,537,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new position in Reliance in the 1st quarter valued at approximately $30,000. Brown Brothers Harriman & Co. boosted its stake 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 valued at $31,000 after buying an additional 50 shares during the period. Greenline Wealth Management LLC purchased a new position in shares of Reliance during the 4th quarter valued at $32,000. Quarry LP acquired a new position in shares of Reliance in the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction 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 completion of the transaction, the chief financial officer owned 14,640 shares in the company, 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. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the subject of several recent research reports. 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. Wells Fargo & Company raised their price objective on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a research note on Thursday, April 30th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $378.67.

Reliance Stock Down 5.4%

RS opened at $398.62 on Thursday. The business has a 50 day moving average price of $399.89 and a 200 day moving average price of $360.09. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The firm has a market cap of $20.35 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.08 and a beta of 0.96.

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. 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 the consensus estimate of $4.26 billion. During the same quarter last year, the company posted $4.43 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts forecast that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s dividend payout ratio is currently 29.07%.

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.