Foundations Investment Advisors LLC Trims Stock Position in Reliance, Inc. $RS

Key Points

• Foundations Investment Advisors LLC cut its Reliance, Inc. stake by 74.2% in the fourth quarter, leaving it with 1,448 shares worth about $418,000.
• Several other institutional investors adjusted positions in RS, and hedge funds and other institutions now own 79.26% of the stock. Meanwhile, insiders also sold shares, including SVP William A. Smith II and CFO Arthur Ajemyan.
• Reliance reported better-than-expected Q1 results with EPS of $5.16 on revenue of $4.03 billion, and it declared a quarterly dividend of $1.25 per share payable on June 5.

Foundations Investment Advisors LLC lessened its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 74.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,448 shares of the industrial products company's stock after selling 4,165 shares during the quarter. Foundations Investment Advisors LLC's holdings in Reliance were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RS. Royal Bank of Canada raised its position in Reliance by 6.6% in the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company's stock valued at $4,364,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC raised its position in Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock valued at $1,635,000 after purchasing an additional 258 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Reliance by 99.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 131 shares during the last quarter. Walleye Capital LLC raised its position in Reliance by 2,192.5% in the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company's stock valued at $381,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Reliance in the 2nd quarter valued at $1,318,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Insider Transactions at Reliance

In related news, SVP William A. Smith II sold 6,615 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $298.61, for a total value of $1,975,305.15. Following the sale, the senior vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 16,840 shares in the company, valued at approximately $6,030,740.80. The trade was a 17.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RS has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Reliance from $340.00 to $345.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Bank of America downgraded shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Reliance from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Reliance in a research report on Wednesday, April 1st. They issued a "neutral" rating and a $300.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Reliance presently has an average rating of "Hold" and a consensus price target of $344.67.

Reliance Price Performance

Shares of NYSE RS opened at $392.25 on Wednesday. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.19 and a beta of 0.95. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $394.62. The company's 50-day moving average price is $341.00 and its 200 day moving average price is $318.33. 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 (NYSE:RS - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $4.03 billion for the quarter, compared to analysts' expectations of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm's revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, research analysts forecast that Reliance, Inc. will post 18.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, May 22nd. Reliance's dividend payout ratio is presently 32.62%.

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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