Reliance, Inc. $RS Shares Bought by Peterson Wealth Services

Key Points

• Peterson Wealth Services sharply increased its Reliance stake in Q4, boosting holdings by 2,983.7% to 3,207 shares worth about $926,000.
• Reliance’s latest quarterly results beat expectations, with EPS of $5.16 versus $4.63 expected and revenue of $4.03 billion, up 15.1% year over year.
• The stock has been active around analyst and insider moves: CFO Arthur Ajemyan sold 3,500 shares, while the analyst consensus remains Hold with an average price target of $357.83.

Peterson Wealth Services grew its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 2,983.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,207 shares of the industrial products company's stock after purchasing an additional 3,103 shares during the period. Peterson Wealth Services' holdings in Reliance were worth $926,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Kathmere Capital Management LLC raised its position in shares of Reliance by 4.9% during the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company's stock worth $227,000 after acquiring an additional 37 shares during the last quarter. Choreo LLC raised its position in shares of Reliance by 2.9% during the third quarter. Choreo LLC now owns 1,366 shares of the industrial products company's stock worth $383,000 after acquiring an additional 39 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Reliance by 4.4% during the fourth quarter. GAMMA Investing LLC now owns 965 shares of the industrial products company's stock worth $279,000 after acquiring an additional 41 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Reliance by 1.5% during the third quarter. Fisher Asset Management LLC now owns 2,935 shares of the industrial products company's stock worth $824,000 after acquiring an additional 43 shares during the last quarter. Finally, Advisory Research Inc. raised its position in shares of Reliance by 2.6% during the third quarter. Advisory Research Inc. now owns 1,782 shares of the industrial products company's stock worth $500,000 after acquiring an additional 45 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 3,500 shares of the company's 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 in the company, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

RS has been the subject of a number of recent research reports. Bank of America downgraded 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. 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 research report on Monday, April 27th. Wells Fargo & Company boosted their target price on Reliance from $343.00 to $376.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 4th. Wall Street Zen upgraded Reliance from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Finally, Weiss Ratings upgraded Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $357.83.

Reliance Trading Up 4.1%

NYSE RS opened at $410.31 on Friday. The stock has a 50-day simple moving average of $356.88 and a 200 day simple moving average of $325.52. The company has a market capitalization of $20.95 billion, a PE ratio of 26.77, a P/E/G ratio of 1.22 and a beta of 0.95. The company has a current ratio of 4.39, a quick ratio of 2.24 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 $411.00.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings data 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 during 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 firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Research analysts forecast that Reliance, Inc. will post 18.98 EPS for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 22nd. Reliance's dividend payout ratio is currently 32.62%.

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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