Cornerstone Capital Inc. Makes New $23.73 Million Investment in Reliance, Inc. $RS

Cornerstone Capital Inc. acquired a new position in shares of Reliance, Inc. (NYSE:RS) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 63,505 shares of the industrial products company’s stock, valued at approximately $23,725,000. Reliance accounts for approximately 2.1% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Costello Asset Management INC bought a new position in Reliance in the first quarter worth $30,000. Brown Brothers Harriman & Co. increased its holdings 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 buying an additional 50 shares during the period. Greenline Wealth Management LLC bought a new stake in Reliance in the 4th quarter valued at $32,000. Quarry LP acquired a new position in shares of Reliance in the 3rd quarter valued at $32,000. Finally, Parkside Financial Bank & Trust lifted its holdings 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 acquiring an additional 55 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Reliance Price Performance

NYSE:RS opened at $425.46 on Friday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The firm has a market cap of $21.72 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.09 and a beta of 0.96. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The company’s 50-day moving average price is $398.82 and its two-hundred day moving average price is $358.01.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping 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 company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the business posted $4.43 earnings per share. The company’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Analyst Ratings Changes

Several research analysts recently issued reports on RS shares. BMO Capital Markets increased 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. Citigroup reiterated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Seaport Research Partners increased their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. 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. Finally, Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $378.67.

Insider Buying and Selling at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of the 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 owned 19,394 shares in the company, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade 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.

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.