Hsbc Holdings PLC Buys 2,945 Shares of Reliance, Inc. $RS

Key Points

• HSBC Holdings PLC increased its stake in Reliance, Inc. by 1.3% in the fourth quarter, buying 2,945 more shares and bringing its total holding to 236,496 shares valued at about $68.3 million.
• Analysts are mixed on RS: recent price-target hikes came from several firms, but the overall consensus remains Hold with a $364.50 target price.
• Reliance reported strong quarterly results, beating earnings and revenue estimates, and it also paid a quarterly dividend of $1.25 per share, implying a 1.3% annual yield.

Hsbc Holdings PLC boosted its stake in Reliance, Inc. (NYSE:RS - Free Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,496 shares of the industrial products company's stock after buying an additional 2,945 shares during the period. Hsbc Holdings PLC owned 0.46% of Reliance worth $68,311,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RS. Royal Bank of Canada boosted its position in shares of Reliance by 6.6% during the first 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 in the last quarter. Empowered Funds LLC raised its holdings in Reliance by 4.8% in the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock worth $1,635,000 after purchasing an additional 258 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Reliance by 99.2% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company's stock worth $76,000 after purchasing an additional 131 shares in the last quarter. Walleye Capital LLC lifted its position in Reliance by 2,192.5% during the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company's stock valued at $381,000 after buying an additional 1,162 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Reliance during the 2nd quarter valued at $1,318,000. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RS shares. Wells Fargo & Company upped their target price on shares of Reliance from $343.00 to $376.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. KeyCorp boosted their price objective on shares of Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. BMO Capital Markets upped their price objective on shares of Reliance from $320.00 to $350.00 and gave the stock a "market perform" rating in a report on Monday, April 27th. JPMorgan Chase & Co. raised their target price on shares of Reliance from $345.00 to $378.00 and gave the company a "neutral" rating in a research note on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Reliance from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $364.50.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the firm's 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 sale, the chief financial officer owned 16,840 shares in the company, valued at approximately $6,030,740.80. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Reliance Stock Performance

Shares of RS opened at $372.89 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83. The firm has a market capitalization of $19.04 billion, a P/E ratio of 24.32, a PEG ratio of 1.15 and a beta of 0.97. The business has a fifty day moving average of $379.92 and a 200 day moving average of $337.79.

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, beating analysts' consensus estimates of $4.63 by $0.53. The company 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%.Reliance's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, sell-side analysts anticipate that Reliance, Inc. will post 19.26 EPS for the current year.

Reliance Dividend Announcement

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