Public Employees Retirement System of Ohio Invests $6.88 Million in Reliance, Inc. $RS

Public Employees Retirement System of Ohio acquired a new position in Reliance, Inc. (NYSE:RS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,411 shares of the industrial products company’s stock, valued at approximately $6,878,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in Reliance by 1.7% during the 1st quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after buying an additional 31 shares during the period. Venturi Wealth Management LLC grew its position in shares of Reliance by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after buying an additional 34 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Reliance by 1.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock valued at $588,000 after buying an additional 35 shares during the period. Kathmere Capital Management LLC raised its position in shares of Reliance by 4.8% during the first quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 38 shares during the last quarter. Finally, Root Financial Partners LLC raised its position in shares of Reliance by 27.6% during the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 40 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Up 1.6%

Shares of Reliance stock opened at $390.26 on Wednesday. The stock’s 50-day moving average is $396.69 and its 200 day moving average is $362.73. Reliance, Inc. has a one year low of $260.31 and a one year high of $433.02. The firm has a market cap of $19.93 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 0.99 and a beta of 0.96. 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 (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping 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 the consensus estimate of $4.26 billion. During the same period in the previous year, the company posted $4.43 earnings per share. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $1.25 dividend. 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%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Citigroup restated a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. BMO Capital Markets boosted their price target on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Reliance from a “strong-buy” rating to a “buy” rating in a research note on Monday. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $377.50.

Insider Buying and Selling at Reliance

In related 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Arthur Ajemyan sold 2,200 shares of the 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 transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company’s stock.

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.