Caxton Associates LLP Cuts Stake in Reliance, Inc. $RS

Caxton Associates LLP lowered its stake in shares of Reliance, Inc. (NYSE:RS) by 39.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,266 shares of the industrial products company’s stock after selling 1,477 shares during the period. Caxton Associates LLP’s holdings in Reliance were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RS. ProCore Advisors LLC purchased a new position in shares of Reliance in the fourth quarter worth about $18,787,000. Arjuna Capital purchased a new stake in Reliance during the fourth quarter worth $1,838,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Reliance during the 4th quarter valued at about $61,317,000. Forsta AP Fonden acquired a new stake in Reliance in the fourth quarter valued at approximately $2,022,000. Finally, Fulcrum Wealth Advisors LLC purchased a new stake in Reliance in the 4th quarter worth $2,529,000. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Down 0.9%

Shares of NYSE:RS opened at $404.34 on Tuesday. 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 fifty-two week low of $260.31 and a fifty-two week high of $419.83. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.17 and a beta of 0.97. The firm’s 50-day simple moving average is $387.82 and its 200-day simple moving average is $348.54.

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, beating analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts predict that Reliance, Inc. will post 19.84 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued 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 payout ratio is 29.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RS shares. BMO Capital Markets increased their target price on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Seaport Research Partners raised their price target on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. KeyCorp raised their price target on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $378.67.

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.