12,787 Reliance, Inc. $RS Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Reliance stake by 146.6% in the third quarter, purchasing 12,787 additional shares for a total holding of 21,512 shares valued at approximately $8.3 million.
• Institutional investors own 79.26% of Reliance’s stock, while several major funds—including BlackRock, Bank of New York Mellon, and William Blair—reported new positions.
• Reliance exceeded quarterly earnings expectations, reporting $6.27 EPS and $4.63 billion in revenue; however, analysts maintain an average “Hold” rating with a $387.43 price target, below the stock’s reported $417.31 price.

Assenagon Asset Management S.A. lifted its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 146.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,512 shares of the industrial products company's stock after purchasing an additional 12,787 shares during the period. Assenagon Asset Management S.A.'s holdings in Reliance were worth $8,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RS. BlackRock Inc. acquired a new stake in shares of Reliance during the 2nd quarter worth approximately $2,171,081,000. Bank of New York Mellon Corp acquired a new stake in Reliance in the 2nd quarter valued at approximately $176,913,000. William Blair Investment Management LLC bought a new stake in shares of Reliance in the second quarter worth $142,900,000. Corient Private Wealth LP bought a new stake in shares of Reliance during the 2nd quarter worth approximately $129,799,000. Finally, XXEC Inc. bought a new stake in Reliance during the second quarter worth $127,493,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Reliance Price Performance

Reliance stock opened at $417.31 on Tuesday. The company has a market cap of $21.31 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 0.94 and a beta of 0.95. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The business's 50 day simple moving average is $398.20 and its 200 day simple moving average is $383.03. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%. The firm's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Sell-side analysts forecast that Reliance, Inc. will post 23.70 EPS for the current year.

Insider Transactions at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RS has been the topic of several research analyst reports. Zacks Research raised shares of Reliance from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. BMO Capital Markets lifted their price target on shares of Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Barclays started coverage on shares of Reliance in a research report on Wednesday, October 14th. They issued an "equal weight" rating and a $420.00 price target for the company. Wall Street Zen cut shares of Reliance from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reliance from $390.00 to $400.00 and gave the company a "neutral" rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Reliance has an average rating of "Hold" and an average target price of $387.43.

Reliance Company Profile

Reliance, Inc NYSE: RS is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.