CenterBook Partners LP Has $1.03 Million Stock Holdings in Reliance, Inc. $RS

Key Points

• CenterBook Partners LP cut its Reliance, Inc. stake by 69.6% in the fourth quarter, selling 8,157 shares and leaving it with 3,568 shares worth about $1.03 million.
• Reliance remains heavily held by institutions, with 79.26% of shares owned by institutional investors and hedge funds. Several smaller investors also opened new positions during the quarter.
• Analysts are mixed but mostly cautious on RS: recent updates lifted price targets, yet the overall consensus remains a Hold with a target price of $357.83, below the current share price mentioned in the article.

CenterBook Partners LP decreased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 69.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,568 shares of the industrial products company's stock after selling 8,157 shares during the period. CenterBook Partners LP's holdings in Reliance were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RS. Elevation Wealth Partners LLC acquired a new stake in shares of Reliance in the fourth quarter valued at about $28,000. Quarry LP acquired a new stake in shares of Reliance in the third quarter valued at about $32,000. Elyxium Wealth LLC acquired a new stake in shares of Reliance in the fourth quarter valued at about $36,000. Advisory Services Network LLC acquired a new stake in shares of Reliance in the third quarter valued at about $39,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Reliance in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on RS. Wall Street Zen upgraded Reliance from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. The Goldman Sachs Group started coverage on Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 target price on the stock. KeyCorp increased their price target on Reliance from $341.00 to $378.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Seaport Research Partners raised their price objective on shares of Reliance from $340.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Reliance from $345.00 to $378.00 and gave the company a "neutral" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $357.83.

More Reliance News

Here are the key news stories impacting Reliance this week:

• Neutral Sentiment: JPMorgan raised its price target on Reliance, Inc. (RS) to $378 from $345, but kept a neutral rating, suggesting limited upside from current levels. Benzinga
• Positive Sentiment: Reliance-related news around Meta partnering on an AI-focused data center in Jamnagar and a Rs 855 crore JV has sparked optimism in the broader Reliance complex, potentially supporting sentiment for the name. Financial Express
• Positive Sentiment: Reports that Reliance shares gained after the Meta AI data center partnership announcement suggest the market is viewing the AI infrastructure tie-up as a growth catalyst. GoodReturns
• Neutral Sentiment: Reliance, Inc. presented at the Wells Fargo Industrials & Materials Conference, which may have provided additional color on the business but does not appear to be a major new catalyst by itself. Seeking Alpha
• Neutral Sentiment: Brokerage updates showing a consensus Hold rating reinforce a cautious but not bearish outlook for Reliance, Inc. (RS). American Banking News

Reliance Stock Performance

Shares of RS opened at $395.49 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The stock has a 50-day moving average of $354.75 and a 200-day moving average of $324.57. The company has a market cap of $20.19 billion, a PE ratio of 25.80, a P/E/G ratio of 1.24 and a beta of 0.95. Reliance, Inc. has a one year low of $260.31 and a one year high of $409.66.

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

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Reliance's dividend payout ratio is presently 32.62%.

About Reliance

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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