Principal Financial Group Inc. Has $209.39 Million Holdings in Reliance, Inc. $RS

Principal Financial Group Inc. lessened its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 724,848 shares of the industrial products company's stock after selling 30,908 shares during the period. Principal Financial Group Inc. owned about 1.39% of Reliance worth $209,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fulcrum Wealth Advisors LLC acquired a new stake in shares of Reliance in the 4th quarter worth about $2,529,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Reliance in the 4th quarter valued at $61,317,000. Danske Bank A S raised its position in Reliance by 3.1% in the 4th quarter. Danske Bank A S now owns 106,949 shares of the industrial products company's stock valued at $30,894,000 after buying an additional 3,212 shares during the last quarter. Torren Management LLC purchased a new stake in Reliance in the 4th quarter valued at $112,000. Finally, M&T Bank Corp raised its position in Reliance by 22.5% in the 4th quarter. M&T Bank Corp now owns 5,852 shares of the industrial products company's stock valued at $1,690,000 after buying an additional 1,073 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the sale, the chief financial officer owned 16,840 shares of the company's stock, valued at approximately $6,030,740.80. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of Reliance stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the completion of the transaction, the chief operating officer owned 14,021 shares of the company's stock, valued at $4,509,434.02. This represents a 63.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 34,175 shares of company stock valued at $10,966,902. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on RS. Seaport Research Partners increased their price target on Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. KeyCorp increased their price objective on shares of Reliance from $341.00 to $378.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Zacks Research raised Reliance from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 3rd. Bank of America lowered Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 target price for the company. in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on Reliance from $340.00 to $345.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $344.67.

Reliance Trading Up 2.6%

Shares of RS stock opened at $372.13 on Wednesday. The company has a 50 day moving average of $317.57 and a 200-day moving average of $305.90. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $373.77. The firm has a market cap of $19.00 billion, a P/E ratio of 24.27, a PEG ratio of 1.14 and a beta of 0.95.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business posted $3.77 EPS. Reliance's quarterly revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Sell-side analysts anticipate that Reliance, Inc. will post 18.7 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $1.25 dividend. 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 dividend payout ratio (DPR) is 32.62%.

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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