Forsta AP Fonden Makes New $2.02 Million Investment in Reliance, Inc. $RS

Key Points

• Forsta AP Fonden opened a new position in Reliance, Inc., buying 7,000 shares valued at about $2.02 million in the fourth quarter.
• Reliance reported strong quarterly results, with earnings of $5.16 per share and revenue of $4.03 billion, both above analyst 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 Hold with an average price target of $344.67.

Forsta AP Fonden acquired a new position in shares of Reliance, Inc. (NYSE:RS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,000 shares of the industrial products company's stock, valued at approximately $2,022,000.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Reliance during the fourth quarter worth approximately $207,691,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Reliance during the fourth quarter valued at approximately $12,808,000. National Pension Service grew its stake in shares of Reliance by 57.4% during the fourth quarter. National Pension Service now owns 7,710 shares of the industrial products company's stock valued at $2,227,000 after buying an additional 2,812 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Reliance during the fourth quarter valued at approximately $674,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Reliance during the fourth quarter valued at approximately $9,287,000. 79.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the completion of the sale, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William A. Smith II sold 6,615 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $298.61, for a total value of $1,975,305.15. Following the sale, the senior vice president owned 21,747 shares of the company's stock, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by corporate insiders.

Reliance Stock Up 2.5%

Reliance stock opened at $392.25 on Wednesday. The business has a fifty day moving average of $341.00 and a two-hundred day moving average of $318.33. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. The firm has a market cap of $20.02 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.19 and a beta of 0.95. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $394.62.

Reliance (NYSE:RS - Get Free Report) last posted its 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 company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.Reliance's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, analysts forecast that Reliance, Inc. will post 18.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance's dividend payout ratio is currently 32.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RS shares. Wells Fargo & Company upped their target price on Reliance from $323.00 to $330.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. upped their target price on Reliance from $340.00 to $345.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. BMO Capital Markets upped 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. Zacks Research raised Reliance from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 3rd. Finally, The Goldman Sachs Group started coverage on Reliance in a research note on Wednesday, April 1st. They set a "neutral" rating and a $300.00 target price on the stock. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Reliance has an average rating of "Hold" and an average price target of $344.67.

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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