Horizon Investments LLC Reduces Position in Reliance, Inc. $RS

Key Points

• Horizon Investments LLC cut its stake in Reliance, Inc. by 38.2% in Q4, selling 6,309 shares and now holding 10,188 shares valued at about $2.94 million.
• Company insiders have been net sellers recently: SVP William A. Smith II sold 6,615 shares and CFO Arthur Ajemyan sold 3,500, with insiders disposing of a total of 34,175 shares worth about $10.97 million over the last three months.
• Reliance beat Q1 estimates with $5.16 EPS (vs. $4.63 expected) and $4.03 billion revenue, guided Q2 EPS to 5.15–5.35, and declared a $1.25 quarterly dividend (annualized $5.00, ~1.4% yield).

Horizon Investments LLC cut its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 38.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,188 shares of the industrial products company's stock after selling 6,309 shares during the quarter. Horizon Investments LLC's holdings in Reliance were worth $2,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RS. Elevation Wealth Partners LLC purchased a new stake in Reliance during the fourth quarter valued at about $28,000. Quarry LP purchased a new stake in Reliance during the third quarter valued at about $32,000. Guerra Advisors Inc purchased a new stake in Reliance during the third quarter valued at about $34,000. Root Financial Partners LLC purchased a new stake in Reliance during the third quarter valued at about $38,000. Finally, Advisory Services Network LLC purchased a new stake in Reliance during the third quarter valued at about $39,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP William A. Smith II sold 6,615 shares of the company's stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 21,747 shares in the company, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. The trade was a 17.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 34,175 shares of company stock worth $10,966,902. Insiders own 0.40% of the company's stock.

Reliance Stock Down 0.7%

RS stock opened at $363.22 on Tuesday. 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's 50 day moving average is $316.50 and its 200 day moving average is $305.20. The stock has a market cap of $18.54 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.15 and a beta of 0.95. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $368.22.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.53. The company 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%. Reliance's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period 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. Sell-side analysts predict that Reliance, Inc. will post 18.7 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, May 22nd. Reliance's dividend payout ratio is 32.62%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research raised shares of Reliance from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. Wells Fargo & Company upped their price target on Reliance from $323.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group initiated coverage on Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price target on the stock. BMO Capital Markets upped their price target on Reliance from $320.00 to $350.00 and gave the company a "market perform" rating in a research report on Monday, April 27th. Finally, KeyCorp upped their price target on Reliance from $341.00 to $378.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $344.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.