Pictet Asset Management Holding SA Increases Stock Holdings in Reliance, Inc. $RS

Pictet Asset Management Holding SA lifted its stake in shares of Reliance, Inc. (NYSE:RS) by 135.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,052 shares of the industrial products company’s stock after buying an additional 28,793 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Reliance were worth $15,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in shares of Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after purchasing an additional 34 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Reliance in the first quarter valued at $4,620,000. Ritholtz Wealth Management boosted its stake in shares of Reliance by 1.5% in the first quarter. Ritholtz Wealth Management now owns 7,027 shares of the industrial products company’s stock valued at $2,136,000 after purchasing an additional 102 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Reliance by 8.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,948 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 150 shares in the last quarter. Finally, OP Asset Management Ltd purchased a new stake in Reliance during the 1st quarter worth $1,730,000. 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 on Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the completion of the transaction, the chief financial officer directly owned 16,840 shares in the company, valued at $6,030,740.80. This represents a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RS. BMO Capital Markets boosted their price objective on shares of Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Seaport Research Partners raised their target price on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research report on Thursday, April 30th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, KeyCorp increased their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus target price of $364.50.

Reliance Stock Performance

Shares of NYSE RS opened at $372.89 on Friday. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $379.48 and its two-hundred day moving average price is $337.23. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $419.83. 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 (NYSE:RS) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS 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 analyst estimates of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, sell-side analysts forecast that Reliance, Inc. will post 19.26 earnings per share 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 given a dividend of $1.25 per share. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s payout ratio is currently 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.