Reliance, Inc. $RS Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 73.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,641 shares of the industrial products company’s stock after selling 29,165 shares during the quarter. State of Alaska Department of Revenue’s holdings in Reliance were worth $4,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. XXEC Inc. bought a new position in Reliance in the 2nd quarter valued at $127,493,000. BlackRock Inc. purchased a new position in shares of Reliance during the 2nd quarter valued at $2,171,081,000. Bank of New York Mellon Corp purchased a new position in shares of Reliance during the 2nd quarter valued at $176,913,000. William Blair Investment Management LLC purchased a new position in shares of Reliance during the 2nd quarter valued at $142,900,000. Finally, Corient Private Wealth LP purchased a new position in shares of Reliance during the 2nd quarter valued at $129,799,000. 79.26% of the stock is currently owned by institutional investors.

Key Reliance News

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Barclays initiated coverage with an “equal weight” rating and a $420 price target. The target implies modest upside from the stock’s recent $410.90 level, providing a measured valuation endorsement even though Barclays did not recommend an outright overweight position.
• Neutral Sentiment: Wall Street is focusing on Reliance’s third-quarter 2026 operating metrics ahead of earnings. The latest preview highlights estimates for revenue, earnings and key performance measures for the quarter ended September, but it does not report actual results or identify a significant estimate revision. Zacks Reliance Q3 earnings preview
• Neutral Sentiment: Most of the other reports concern Reliance Industries Ltd. in India and its Jio Platforms IPO, not Reliance, Inc. (RS). News about Jio’s proposed ?30,213 crore offering, its price band, distribution arrangements and Joyland dairy products may affect Indian-listed Reliance Industries, but it is not a direct catalyst for the U.S.-listed industrial metals distributor.

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by corporate insiders.

Reliance Stock Up 1.0%

RS stock opened at $410.90 on Friday. The company’s 50 day moving average is $398.40 and its 200 day moving average is $381.66. The stock has a market cap of $20.98 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02.

Reliance (NYSE:RS) last announced its 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. Reliance had a net margin of 5.65% and a return on equity of 12.51%. 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 business posted $4.43 earnings per share. Reliance’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. Sell-side analysts predict that Reliance, Inc. will post 23.70 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Reliance from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Barclays assumed coverage on Reliance in a research note on Wednesday. They set an “equal weight” rating and a $420.00 price objective for the company. Wall Street Zen lowered Reliance from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. JPMorgan Chase & Co. boosted their target price on Reliance from $390.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, October 9th. Finally, Wells Fargo & Company decreased their target price on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $387.43.

Reliance Company Profile

Reliance, operating as Reliance Steel & Aluminum Co (NYSE: RS), is a diversified metals service center company. It distributes a broad range of metals, including carbon steel, stainless steel, aluminum, copper, brass, titanium and specialty steel products, serving manufacturers, fabricators, construction companies and other industrial customers.

The company provides value-added services designed to prepare metals for customer use. These services include cutting, leveling, slitting, sawing, machining, forming, coating, welding and other fabrication processes.