Intech Investment Management LLC Boosts Holdings in Reliance, Inc. $RS

Key Points

• Intech Investment Management increased its Reliance, Inc. stake by 71.7% in the fourth quarter, buying 17,562 shares to bring its total to 42,065 shares worth about $12.15 million.
• Reliance reported better-than-expected quarterly results, posting $5.16 EPS versus $4.63 expected and revenue of $4.03 billion versus $3.89 billion expected, with revenue up 15.1% year over year.
• Analysts and insiders were active: several firms raised price targets and the stock’s consensus rating is Hold with an average target of $344.67, while both the SVP and CFO recently sold shares.

Intech Investment Management LLC raised its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 71.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,065 shares of the industrial products company's stock after buying an additional 17,562 shares during the quarter. Intech Investment Management LLC owned approximately 0.08% of Reliance worth $12,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC purchased a new stake in Reliance in the 4th quarter valued at about $28,000. Quarry LP purchased a new stake in Reliance in the 3rd quarter valued at about $32,000. Guerra Advisors Inc purchased a new stake in Reliance in the 3rd quarter valued at about $34,000. Elyxium Wealth LLC purchased a new stake in Reliance in the 4th quarter valued at about $36,000. Finally, Sound Income Strategies LLC purchased a new stake in Reliance in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

Insider Activity at Reliance

In related news, SVP William A. Smith II sold 6,615 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the transaction, the senior vice president directly owned 21,747 shares of the company's stock, valued at approximately $6,493,871.67. The trade was a 23.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Arthur Ajemyan sold 3,500 shares of the company'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 value of $1,253,420.00. Following the completion of the transaction, 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 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 issued reports on RS shares. The Goldman Sachs Group started coverage on Reliance in a report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 target price for the company. KeyCorp boosted their target price on Reliance from $341.00 to $378.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Wells Fargo & Company boosted their target price on Reliance from $323.00 to $330.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their target price on Reliance from $340.00 to $345.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Finally, BMO Capital Markets boosted their target price on Reliance from $320.00 to $350.00 and gave the stock a "market perform" rating in a report on Monday, April 27th. Two equities 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 an average rating of "Hold" and an average target price of $344.67.

Reliance Stock Performance

Reliance stock opened at $381.37 on Friday. The stock's 50 day moving average price is $339.22 and its 200 day moving average price is $317.22. The firm has a market capitalization of $19.47 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 1.17 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. Reliance, Inc. has a one year low of $260.31 and a one year high of $386.39.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.63 by $0.53. The firm had revenue of $4.03 billion for 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 for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, sell-side analysts expect that Reliance, Inc. will post 18.98 EPS for the current fiscal year.

Reliance Dividend Announcement

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