Twin Lakes Capital Management LLC Buys Shares of 1,645 Reliance, Inc. $RS

Twin Lakes Capital Management LLC bought a new position in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,645 shares of the industrial products company’s stock, valued at approximately $614,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RS. Costello Asset Management INC bought a new stake in shares of Reliance during the 1st quarter valued at approximately $30,000. N.E.W. Advisory Services LLC bought a new position in Reliance in the 2nd quarter valued at approximately $37,000. Brown Brothers Harriman & Co. lifted its stake in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 50 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Reliance in the second quarter valued at approximately $41,000. Finally, Greenline Wealth Management LLC acquired a new stake in Reliance in the fourth quarter valued at approximately $32,000. Institutional investors own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William A. Smith II sold 2,353 shares of Reliance 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 transaction, the senior vice president directly 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 SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RS. Wells Fargo & Company lowered their price target on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a report on Monday, August 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. KeyCorp boosted their price objective on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, BMO Capital Markets increased their target price on Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Reliance has an average rating of “Hold” and an average target price of $377.50.

Reliance Trading Down 1.1%

RS opened at $387.57 on Friday. 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 fifty-two week low of $260.31 and a fifty-two week high of $433.02. The company’s 50 day moving average price is $397.24 and its two-hundred day moving average price is $362.24. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.01 and a beta of 0.96.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (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 company’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, research analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Reliance’s dividend payout ratio (DPR) 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.