Legal & General Group Plc Has $66.11 Million Stock Position in Reliance, Inc. $RS

Key Points

• Legal & General Group Plc cut its Reliance stake by 4.5% in the fourth quarter, but still held 228,842 shares valued at about $66.1 million at the end of the period.
• Reliance recently beat quarterly expectations, reporting $5.16 EPS on $4.03 billion in revenue, both above analyst forecasts, while revenue rose 15.1% year over year.
• Analyst sentiment remains mixed: several firms raised price targets or upgraded the stock, but the overall consensus is still Hold with an average target price of $344.67.

Legal & General Group Plc reduced its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,842 shares of the industrial products company's stock after selling 10,744 shares during the period. Legal & General Group Plc owned approximately 0.44% of Reliance worth $66,106,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RS. Royal Bank of Canada raised its position in 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 position in Reliance by 4.8% during the first 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 in the last quarter. Geneos Wealth Management Inc. raised its position in Reliance by 99.2% during the first 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 in the last quarter. Walleye Capital LLC raised 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 purchasing an additional 1,162 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Reliance during the second quarter worth $1,318,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. KeyCorp upped their price target on shares of Reliance from $341.00 to $378.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Wall Street Zen upgraded shares of Reliance from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Seaport Research Partners upped their price target on shares of Reliance from $340.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Finally, 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 report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Reliance currently has an average rating of "Hold" and a consensus target price of $344.67.

Reliance Stock Performance

Shares of RS opened at $381.37 on Friday. 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 stock has a market capitalization of $19.47 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 1.17 and a beta of 0.95. The firm's fifty day simple moving average is $339.22 and its two-hundred day simple moving average is $317.22. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $386.39.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results 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 business 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 business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, analysts predict that Reliance, Inc. will post 18.98 EPS for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders 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 dividend on an annualized basis and a yield of 1.3%. Reliance's dividend payout ratio is 32.62%.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 6,615 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the sale, the senior vice president owned 21,747 shares of the company's stock, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 3,500 shares of the company's stock in a transaction 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 directly owned 16,840 shares in the company, valued at $6,030,740.80. This trade represents a 17.21% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company's stock.

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.

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