Amundi Reduces Stake in Reliance, Inc. $RS

Amundi reduced its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 29.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,009 shares of the industrial products company's stock after selling 51,615 shares during the quarter. Amundi owned about 0.24% of Reliance worth $46,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RS. XXEC Inc. purchased a new position in shares of Reliance during the second quarter valued at about $127,493,000. California State Teachers Retirement System lifted its holdings in Reliance by 20,857.7% in the second quarter. California State Teachers Retirement System now owns 32,965,343 shares of the industrial products company's stock worth $12,315,852,000 after buying an additional 32,808,048 shares during the period. BlackRock Inc. purchased a new stake in Reliance in the second quarter worth about $2,171,081,000. State Street Corp boosted its position in Reliance by 4.5% during the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company's stock valued at $784,503,000 after acquiring an additional 118,009 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock worth $631,224,000 after acquiring an additional 484,286 shares during the period. Institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RS. Wells Fargo & Company dropped their price target on Reliance from $398.00 to $391.00 and set an "equal weight" rating on the stock in a research report on Monday, August 24th. Citigroup reissued a "neutral" rating on shares of Reliance in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Reliance from a "strong-buy" rating to a "buy" rating in a report on Monday, August 31st. BMO Capital Markets upped their target price on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Reliance from $398.00 to $390.00 and set a "neutral" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $379.83.

Reliance Trading Down 0.6%

NYSE RS opened at $392.76 on Friday. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. 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 stock's fifty day moving average price is $398.82 and its 200-day moving average price is $365.70. The stock has a market cap of $20.05 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.01 and a beta of 0.96.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. The firm had revenue of $4.63 billion during 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%.Reliance's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts forecast that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance's dividend payout ratio is presently 29.07%.

Insider Buying and Selling

In related news, SVP William A. Smith II sold 2,353 shares of the company's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company's stock.

Reliance Profile

Reliance, Inc NYSE: RS is a diversified metals service center company that purchases, processes and distributes metals and related industrial products. Its product portfolio includes carbon steel, aluminum, stainless steel, copper, brass, titanium and other specialty metals.

The company provides value-added processing services such as cutting, leveling, sawing, machining, forming and preparing materials to customer specifications. These services help manufacturers and other commercial users reduce material-handling requirements and obtain metals in ready-to-use forms.

Founded in 1939 and headquartered in Los Angeles, California, Reliance serves customers through a network of operations primarily across North America, with additional international capabilities.

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