IFM Investors Pty Ltd trimmed its stake in shares of Reliance, Inc. (NYSE:RS - Free Report) by 24.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,187 shares of the industrial products company's stock after selling 3,351 shares during the quarter. IFM Investors Pty Ltd's holdings in Reliance were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada lifted its stake in Reliance by 6.6% in the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company's stock valued at $4,364,000 after buying an additional 940 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock worth $1,635,000 after acquiring an additional 258 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Reliance by 99.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company's stock worth $76,000 after acquiring an additional 131 shares during the period. Walleye Capital LLC lifted its position in Reliance by 2,192.5% in the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company's stock valued at $381,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Reliance in the 2nd quarter valued at about $1,318,000. Institutional investors own 79.26% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on RS shares. Wall Street Zen upgraded shares of Reliance from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Weiss Ratings upgraded Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Bank of America lowered Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective for the company. in a report on Thursday, April 30th. Wells Fargo & Company raised their target price on Reliance from $343.00 to $376.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. Finally, BMO Capital Markets lifted their target price on Reliance from $320.00 to $350.00 and gave the company a "market perform" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $364.50.
Get Our Latest Analysis on Reliance
Reliance Trading Up 0.2%
Shares of RS stock opened at $372.89 on Friday. The stock has a 50-day simple moving average of $379.92 and a 200 day simple moving average of $337.48. The stock has a market capitalization of $19.04 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.15 and a beta of 0.97. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $419.83. 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 issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 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 firm had revenue of $4.03 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the previous year, the business earned $3.77 earnings per share. Reliance's revenue for the quarter was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, sell-side analysts expect that Reliance, Inc. will post 19.26 earnings per share for the current fiscal year.
Reliance Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance's dividend payout ratio is currently 32.62%.
Insider Buying and Selling
In related news, CFO Arthur Ajemyan sold 3,500 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 16,840 shares in the company, valued at approximately $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 at the SEC website. 0.40% of the stock is currently owned by corporate insiders.
About Reliance
(
Free Report)
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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