Elevation Point Wealth Partners LLC Acquires Shares of 1,884 Reliance, Inc. $RS

Elevation Point Wealth Partners LLC bought a new position in shares of Reliance, Inc. (NYSE:RS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,884 shares of the industrial products company’s stock, valued at approximately $573,000.

Several other institutional investors have also recently made changes to their positions in RS. Root Financial Partners LLC grew its stake in Reliance by 27.6% in the first quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 40 shares during the period. MQS Management LLC bought a new stake in shares of Reliance during the 1st quarter valued at $576,000. Pictet Asset Management Holding SA boosted its holdings in shares of Reliance by 135.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 50,052 shares of the industrial products company’s stock valued at $15,211,000 after buying an additional 28,793 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Reliance by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock worth $1,209,000 after buying an additional 34 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Reliance in the 1st quarter worth about $4,620,000. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 0.7%

NYSE:RS opened at $380.33 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The firm has a market cap of $19.42 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.16 and a beta of 0.97. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $419.83. The firm has a 50-day simple moving average of $381.16 and a two-hundred day simple moving average of $338.96.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts predict that Reliance, Inc. will post 19.26 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is presently 32.62%.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the sale, the chief financial officer directly owned 16,840 shares in the company, valued at approximately $6,030,740.80. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research note on Thursday, April 30th. KeyCorp upped their price objective on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. BMO Capital Markets lifted their target price on shares of Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Finally, Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $364.50.

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.