MQS Management LLC Buys Shares of 1,895 Reliance, Inc. $RS

MQS Management LLC bought a new position in shares of Reliance, Inc. (NYSE:RS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,895 shares of the industrial products company’s stock, valued at approximately $576,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Reliance by 4.5% in the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after acquiring an additional 118,009 shares during the last quarter. Boston Partners increased its holdings in Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares during the last quarter. Wellington Management Group LLP raised its position in 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 valued at $479,870,000 after purchasing an additional 343,598 shares during the period. Franklin Resources Inc. raised its position in Reliance by 4.8% in the third quarter. Franklin Resources Inc. now owns 1,142,551 shares of the industrial products company’s stock valued at $320,863,000 after purchasing an additional 51,894 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Reliance by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock worth $270,349,000 after purchasing an additional 2,549 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares of the company’s stock, valued at $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a report on Wednesday, June 10th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. 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 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 report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $364.50.

Reliance Trading Down 0.1%

RS opened at $374.22 on Wednesday. The business has a fifty day moving average price of $377.98 and a 200 day moving average price of $336.08. 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 12 month low of $260.31 and a 12 month high of $419.83. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.15 and a beta of 0.95.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Sell-side analysts expect that Reliance, Inc. will post 19.26 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, May 22nd. Reliance’s dividend payout ratio is presently 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.