Reliance, Inc. $RS Holdings Raised by AlphaQuest LLC

Key Points

• AlphaQuest LLC boosted its Reliance, Inc. stake by 397.7% in the fourth quarter, ending with 11,611 shares valued at about $3.35 million.
• Reliance’s stock has seen mixed analyst sentiment, with a consensus rating of Hold and an average price target of $344.67, though some firms recently raised targets.
• The company reported strong quarterly results, including $5.16 EPS and $4.03 billion in revenue, both ahead of expectations, and also declared a quarterly dividend of $1.25 per share.

AlphaQuest LLC raised its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 397.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,611 shares of the industrial products company's stock after buying an additional 9,278 shares during the quarter. AlphaQuest LLC's holdings in Reliance were worth $3,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC purchased a new stake in shares of Reliance in the 4th quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of Reliance in the third quarter valued at $32,000. Guerra Advisors Inc acquired a new stake in shares of Reliance in the third quarter worth $34,000. Elyxium Wealth LLC acquired a new stake in shares of Reliance in the fourth quarter worth $36,000. Finally, Root Financial Partners LLC purchased a new position in shares of Reliance during the third quarter valued at $38,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Reliance from $323.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group initiated coverage on Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Reliance from $340.00 to $345.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. KeyCorp upped their target price on Reliance from $341.00 to $378.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Finally, Zacks Research upgraded shares of Reliance from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $344.67.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 16,840 shares of the company's stock, valued at $6,030,740.80. This represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William A. Smith II sold 6,615 shares of the firm'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 value of $1,975,305.15. Following the completion of the sale, the senior vice president owned 21,747 shares of the company's stock, valued at $6,493,871.67. This represents a 23.32% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by corporate insiders.

Reliance Stock Performance

Shares of NYSE RS opened at $367.07 on Tuesday. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $381.00. The company has a market cap of $18.74 billion, a P/E ratio of 23.94, a P/E/G ratio of 1.14 and a beta of 0.95. The business's 50 day moving average is $332.77 and its two-hundred day moving average is $314.62. 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 (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.53. The company had revenue of $4.03 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, equities analysts expect that Reliance, Inc. will post 18.98 EPS for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Reliance's payout ratio is presently 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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