Louisiana State Employees Retirement System Invests $4.62 Million in Reliance, Inc. $RS

Key Points

• Louisiana State Employees Retirement System bought 15,200 shares of Reliance, Inc. in the first quarter, a stake valued at about $4.62 million.
• Reliance reported strong quarterly results, with EPS of $5.16 topping estimates and revenue of $4.03 billion beating expectations; revenue also rose 15.1% year over year.
• The company recently paid a quarterly dividend of $1.25 per share and has a consensus analyst rating of Hold, with a target price of $364.50.

Louisiana State Employees Retirement System purchased a new position in Reliance, Inc. (NYSE:RS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,200 shares of the industrial products company's stock, valued at approximately $4,620,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Elevation Wealth Partners LLC acquired a new stake in Reliance in the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Greenline Wealth Management LLC purchased a new stake in shares of Reliance in the fourth quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Reliance in the third quarter valued at approximately $32,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Reliance by 87.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 55 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Trading Down 5.1%

Shares of Reliance stock opened at $385.22 on Friday. The stock has a 50 day moving average of $375.91 and a 200 day moving average of $334.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.25 and a beta of 0.95. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $419.83.

Reliance (NYSE:RS - Get Free Report) last posted its 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 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%.The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, research analysts predict that Reliance, Inc. will post 19.26 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $1.25 dividend. The ex-dividend date of this dividend was 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 presently 32.62%.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 16,840 shares of the company's stock, valued at $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group began coverage on Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price objective on the stock. KeyCorp raised their target price on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday. Seaport Research Partners lifted their price target on Reliance from $340.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price target on shares of Reliance from $345.00 to $378.00 and gave the company a "neutral" rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen raised shares of Reliance from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $364.50.

Reliance 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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