Amundi Raises Position in Reliance, Inc. $RS

Amundi grew its stake in Reliance, Inc. (NYSE:RS - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,624 shares of the industrial products company's stock after purchasing an additional 21,413 shares during the period. Amundi owned approximately 0.34% of Reliance worth $53,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Reliance by 23.3% during the first quarter. EverSource Wealth Advisors LLC now owns 772 shares of the industrial products company's stock valued at $235,000 after buying an additional 146 shares during the last quarter. Quantinno Capital Management LP boosted its position in Reliance by 80.9% in the 1st quarter. Quantinno Capital Management LP now owns 42,435 shares of the industrial products company's stock valued at $12,897,000 after buying an additional 18,976 shares during the period. Mendon Capital Advisors Corp purchased a new stake in Reliance in the 1st quarter valued at about $6,078,000. OMERS ADMINISTRATION Corp grew its stake in Reliance by 204.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,233 shares of the industrial products company's stock worth $2,502,000 after acquiring an additional 5,531 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Reliance during the first quarter worth approximately $308,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Price Performance

NYSE RS opened at $406.98 on Monday. The firm's fifty day simple moving average is $391.33 and its two-hundred day simple moving average is $351.33. The firm has a market capitalization of $20.78 billion, a P/E ratio of 23.66, a P/E/G ratio of 1.14 and a beta of 0.96. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $419.83.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business posted $4.43 EPS. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts forecast that Reliance, Inc. will post 20.37 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance's dividend payout ratio is 29.07%.

Insider Activity

In related news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president directly owned 19,394 shares of the company's stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on RS. Bank of America cut Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 target price for the company. in a report on Thursday, April 30th. 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 report on Wednesday, July 15th. Seaport Research Partners upped their price objective on shares of Reliance from $340.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. BMO Capital Markets boosted their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Reliance in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $378.67.

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.

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.