AustralianSuper Pty Ltd Makes New Investment in Reliance, Inc. $RS

Key Points

• AustralianSuper Pty Ltd initiated a new position in Reliance, Inc., buying 2,828 shares worth about $817,000 in the fourth quarter.
• Reliance reported strong quarterly results, with EPS of $5.16 beating estimates and revenue of $4.03 billion topping expectations; revenue also rose 15.1% year over year.
• The company declared a quarterly dividend of $1.25 per share, payable June 5, and analysts currently rate the stock a consensus Hold with a $344.67 price target.

AustralianSuper Pty Ltd purchased a new stake in Reliance, Inc. (NYSE:RS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,828 shares of the industrial products company's stock, valued at approximately $817,000.

Several other large investors have also modified their holdings of the business. Baader Bank Aktiengesellschaft acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $555,000. Strategic Family Wealth Counselors L.L.C. grew its position in shares of Reliance by 7.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 3,430 shares of the industrial products company's stock valued at $991,000 after purchasing an additional 244 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $399,000. Bailard Inc. acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $1,311,000. Finally, First National Advisers LLC grew its position in shares of Reliance by 19.0% in the fourth quarter. First National Advisers LLC now owns 8,256 shares of the industrial products company's stock valued at $2,385,000 after purchasing an additional 1,321 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction on Monday, April 27th. The shares were sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares of the company's stock, valued at $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 6,615 shares of Reliance stock in a transaction on Monday, March 9th. The stock was sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the sale, the senior vice president directly owned 21,747 shares in the company, valued at $6,493,871.67. This trade represents a 23.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,175 shares of company stock valued at $10,966,902 in the last quarter. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented 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 on the stock. in a research report on Thursday, April 30th. The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Wednesday, April 1st. They issued a "neutral" rating and a $300.00 price target on the stock. Seaport Research Partners increased their price target on shares of Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Reliance from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets increased their price target on shares of Reliance from $320.00 to $350.00 and gave the company a "market perform" rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Reliance currently has a consensus rating of "Hold" and a consensus target price of $344.67.

Reliance Stock Performance

Shares of RS stock opened at $361.35 on Friday. The company's fifty day simple moving average is $325.73 and its 200-day simple moving average is $310.90. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $381.00. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The company has a market cap of $18.45 billion, a PE ratio of 23.57, a P/E/G ratio of 1.14 and a beta of 0.95.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $3.77 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts anticipate that Reliance, Inc. will post 18.98 EPS for the current year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 22nd. Reliance's dividend payout ratio (DPR) is presently 32.62%.

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.

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