Bank of New York Mellon Corp Has $154.05 Million Stake in Reliance, Inc. $RS

Key Points

• Bank of New York Mellon reduced its Reliance stake by 4.1% in the first quarter, but still held 506,884 shares valued at about $154.05 million at the end of the period.
• Reliance reported better-than-expected Q1 earnings, with EPS of $5.16 versus $4.63 expected and revenue of $4.03 billion versus $3.89 billion expected, while revenue rose 15.1% year over year.
• Analyst views remain mixed: several firms raised or cut price targets, but the stock currently carries a Hold consensus rating and a consensus target of $363.50.

Bank of New York Mellon Corp trimmed its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 506,884 shares of the industrial products company's stock after selling 21,745 shares during the period. Bank of New York Mellon Corp owned 0.99% of Reliance worth $154,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Reliance in the 4th quarter worth $207,691,000. Boston Partners increased its stake in shares of Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock worth $631,224,000 after purchasing an additional 484,286 shares during the period. Wellington Management Group LLP increased its stake in shares of Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company's stock worth $479,870,000 after purchasing an additional 343,598 shares during the period. Corient Private Wealth LLC lifted its position in shares of Reliance by 1,019.0% during the 4th quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company's stock worth $98,758,000 after purchasing an additional 311,323 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Reliance by 4,419.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company's stock worth $79,210,000 after purchasing an additional 268,139 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Reliance

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Reliance Industries reported strong Q1 results, with revenue rising 24.5% to Rs 3.4 lakh crore and recurring profit up 6%, reinforcing optimism around the company’s operating momentum. Reliance Industries Q1 revenue jumps 24.5% to Rs 3.4 lakh crore, recurring PAT climbs 6%
• Positive Sentiment: Jio Platforms posted Q1 revenue of Rs 45,961 crore and a 9% rise in profit, while Jio’s ARPU increased to Rs 215.6, signaling healthy growth in Reliance’s telecom arm. Jio Platforms Q1 earnings: IPO-bound firm logs Rs 45,961 crore revenue, profit up 9%
• Positive Sentiment: Reliance Retail reported Q1 revenue growth of 7.4% to Rs 90,408 crore, adding another sign of steady demand across the consumer business. Reliance Retail's Q1 FY27 revenue up 7.4% to Rs 90,408 crore
• Positive Sentiment: Reliance promoters increased their stake by about 0.5% with share purchases worth roughly Rs 8,500-9,000 crore, which can be read as a strong insider vote of confidence. Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
• Neutral Sentiment: Shares had already been trending up ahead of the results on expectations of strong Q1 performance, suggesting much of the optimism was built into the stock before the announcement. Reliance Industries Q1 Results Live: Stock gains 1.86% ahead of Q1 results; O2C, Jio growth key to earnings
• Neutral Sentiment: Analysts also noted concerns that Reliance may be modestly overvalued and JPMorgan lowered its price target, which could temper enthusiasm even after the strong results. Reliance (RS) Could Be 5% Overvalued On Rising Earnings Expectations
• Negative Sentiment: JPMorgan Chase & Co. lowered its price target on Reliance (RS) to $376, a potential caution flag for U.S.-listed investors. Reliance NYSE: RS Price Target Lowered to $376.00 at JPMorgan Chase & Co.

Reliance Stock Performance

RS opened at $396.28 on Monday. The stock has a market cap of $20.23 billion, a PE ratio of 25.85, a P/E/G ratio of 1.22 and a beta of 0.97. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $419.83. The stock's 50 day simple moving average is $384.40 and its 200-day simple moving average is $344.34.

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, topping the consensus estimate of $4.63 by $0.53. The firm had revenue of $4.03 billion during the quarter, compared to analysts' expectations of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.Reliance's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Sell-side analysts forecast that Reliance, Inc. will post 19.18 EPS for the current year.

Analysts Set New Price Targets

RS has been the subject of several recent analyst reports. BMO Capital Markets increased their target price on Reliance from $320.00 to $350.00 and gave the company a "market perform" rating in a research note on Monday, April 27th. KeyCorp lifted their price target on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 24th. Wells Fargo & Company cut their price target on Reliance from $376.00 to $372.00 and set an "equal weight" rating for the company in a report on Thursday, July 9th. Bank of America cut Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective for the company. in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Reliance currently has a consensus rating of "Hold" and a consensus target price of $363.50.

Insider Buying and Selling

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

Reliance 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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