Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Reliance, Inc. $RS

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Reliance, Inc. (NYSE:RS) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 25,000 shares of the industrial products company’s stock, valued at approximately $7,598,000.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of Reliance by 1.7% in the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 31 shares during the period. Venturi Wealth Management LLC raised its position in shares of Reliance by 0.9% during 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 purchasing an additional 34 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of Reliance by 1.7% during the 4th 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 in the last quarter. Kathmere Capital Management LLC boosted its holdings in Reliance by 4.8% in the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after buying an additional 38 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in Reliance by 27.6% in the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Seaport Research Partners lifted their target price on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group initiated coverage on Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target on the stock. Finally, Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $378.67.

Reliance Trading Down 2.7%

Shares of Reliance stock opened at $403.09 on Thursday. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.19 and a beta of 0.97. The business has a 50-day moving average price of $389.80 and a 200-day moving average price of $350.01. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $419.83.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business’s revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts anticipate that Reliance, Inc. will post 19.84 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Insider Buying and Selling

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction that occurred 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. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Reliance 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.