Reliance, Inc. $RS Shares Purchased by Tredje AP fonden

Key Points

• Tredje AP fonden boosted its Reliance, Inc. stake by 73.4% in the fourth quarter, ending with 16,428 shares worth about $4.75 million.
• Several other institutional investors also increased holdings, and institutions now own 79.26% of Reliance’s stock, showing strong Wall Street ownership interest.
• Reliance reported better-than-expected quarterly results with EPS of $5.16 and revenue of $4.03 billion, and it also announced a quarterly dividend of $1.25 per share.

Tredje AP fonden raised its position in shares of Reliance, Inc. (NYSE:RS - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,428 shares of the industrial products company's stock after purchasing an additional 6,955 shares during the quarter. Tredje AP fonden's holdings in Reliance were worth $4,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RS. Alliancebernstein L.P. lifted its stake in Reliance by 899.4% during the third quarter. Alliancebernstein L.P. now owns 733,528 shares of the industrial products company's stock valued at $205,997,000 after buying an additional 660,128 shares in the last quarter. Boston Partners increased its position in shares of Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock worth $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company's stock worth $479,870,000 after acquiring an additional 343,598 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Reliance by 4,419.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company's stock valued at $79,210,000 after acquiring an additional 268,139 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Reliance in the 4th quarter valued at approximately $61,317,000. Institutional investors own 79.26% of the company's stock.

Insider Buying and Selling at Reliance

In other Reliance news, SVP William A. Smith II sold 6,615 shares of Reliance stock in a transaction that occurred on Monday, March 9th. The shares were 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 directly owned 21,747 shares in the company, valued at $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen Paul Koch sold 24,060 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the transaction, the chief operating officer owned 14,021 shares in the company, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,175 shares of company stock worth $10,966,902 over the last ninety days. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RS has been the topic of several research analyst reports. Zacks Research upgraded shares of Reliance from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 3rd. BMO Capital Markets raised 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. Bank of America downgraded Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target on the stock. in a report on Thursday, April 30th. KeyCorp upped their price target on Reliance from $341.00 to $378.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Finally, Wells Fargo & Company increased their price objective on Reliance from $323.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $344.67.

Reliance Stock Performance

Shares of NYSE RS opened at $357.09 on Wednesday. The business's 50-day moving average price is $327.79 and its two-hundred day moving average price is $312.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. Reliance, Inc. has a one year low of $260.31 and a one year high of $381.00. The company has a market capitalization of $18.23 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.95.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.53. The company 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 business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts anticipate that Reliance, Inc. will post 18.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

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