Principal Financial Group Inc. Has $219.04 Million Stake in Reliance, Inc. $RS

Principal Financial Group Inc. trimmed its position in Reliance, Inc. (NYSE:RS) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 720,702 shares of the industrial products company’s stock after selling 4,146 shares during the period. Principal Financial Group Inc. owned approximately 1.41% of Reliance worth $219,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new position in shares of Reliance during the 4th quarter worth approximately $10,297,000. Assenagon Asset Management S.A. lifted its position in shares of Reliance by 24.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,284 shares of the industrial products company’s stock worth $7,015,000 after purchasing an additional 4,817 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Reliance by 49.4% in the third quarter. JPMorgan Chase & Co. now owns 342,796 shares of the industrial products company’s stock worth $96,268,000 after purchasing an additional 113,378 shares in the last quarter. ProCore Advisors LLC acquired a new position in Reliance during the fourth quarter worth $18,787,000. Finally, Arjuna Capital acquired a new position in Reliance during the fourth quarter worth $1,838,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Price Performance

Shares of RS opened at $388.39 on Wednesday. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $383.04 and its 200 day simple moving average is $342.13. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $419.83. The company has a market cap of $19.83 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.19 and a beta of 0.97.

Reliance (NYSE:RS) last announced its quarterly earnings results 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. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company posted $3.77 earnings per share. The company’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, research analysts forecast that Reliance, Inc. will post 19.24 earnings per share for the current fiscal year.

Reliance Announces Dividend

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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, May 22nd. Reliance’s dividend payout ratio (DPR) is 32.62%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Wells Fargo & Company decreased their price objective on Reliance from $376.00 to $372.00 and set an “equal weight” rating for the company in a report on Thursday, July 9th. 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. Finally, Seaport Research Partners upped their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $363.83.

Insider Transactions at Reliance

In related news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

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.