Hsbc Holdings PLC raised its position in Reliance, Inc. (NYSE:RS - Free Report) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,697 shares of the industrial products company's stock after purchasing an additional 16,179 shares during the quarter. Hsbc Holdings PLC owned 0.44% of Reliance worth $84,764,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Costello Asset Management INC bought a new position in shares of Reliance during the first quarter worth about $30,000. Brown Brothers Harriman & Co. lifted its stake in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new stake in Reliance in the 4th quarter valued at approximately $32,000. Quarry LP acquired a new position in Reliance during the 3rd quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock worth $34,000 after acquiring an additional 55 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the company's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the transaction, the chief financial officer directly owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William Smith, II sold 2,353 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the transaction, the senior vice president directly owned 19,394 shares in the company, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on RS shares. Citigroup reissued a "neutral" rating on shares of Reliance in a research report on Wednesday, July 29th. KeyCorp raised their target price on shares of Reliance from $378.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. BMO Capital Markets lifted their price target on shares of Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Reliance in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Reliance has a consensus rating of "Hold" and an average price target of $377.50.
Read Our Latest Report on Reliance
Reliance Price Performance
NYSE:RS opened at $401.15 on Monday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $396.94 and its two-hundred day moving average price is $363.83. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.03 and a beta of 0.96. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02.
Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current year.
Reliance Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Reliance's payout ratio is 29.07%.
About Reliance
(
Free Report)
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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