Elevation Point Wealth Partners LLC Makes New Investment in Reliance, Inc. $RS

Elevation Point Wealth Partners LLC bought a new position in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,922 shares of the industrial products company’s stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RS. Costello Asset Management INC purchased a new position in shares of Reliance in the first quarter valued at $30,000. N.E.W. Advisory Services LLC acquired a new position in Reliance in the 2nd quarter worth $37,000. Brown Brothers Harriman & Co. lifted 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 worth $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in Reliance in the 4th quarter valued at about $32,000. Finally, Quarry LP acquired a new stake in shares of Reliance during the third quarter valued at about $32,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RS shares. Wells Fargo & Company cut their price target on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research note on Monday. KeyCorp lifted their price objective on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $377.50.

Insider Transactions at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were 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 approximately $8,033,188.74. This represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company’s stock.

Reliance Trading Down 1.5%

Shares of NYSE RS opened at $382.26 on Tuesday. The stock’s 50 day moving average price is $398.33 and its two-hundred day moving average price is $361.18. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $433.02. The stock has a market capitalization of $19.52 billion, a P/E ratio of 22.22, a PEG ratio of 1.00 and a beta of 0.96. 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 (NYSE:RS) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS 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 company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the business posted $4.43 EPS. Reliance’s quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is presently 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.