Hsbc Holdings PLC Acquires 2,945 Shares of Reliance, Inc. $RS

Hsbc Holdings PLC grew its holdings in Reliance, Inc. (NYSE:RS) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,496 shares of the industrial products company’s stock after purchasing an additional 2,945 shares during the period. Hsbc Holdings PLC owned about 0.46% of Reliance worth $68,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RS. Elevation Wealth Partners LLC bought a new position in shares of Reliance in the fourth quarter worth about $28,000. Brown Brothers Harriman & Co. lifted its holdings in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC purchased a new stake in Reliance in the 4th quarter valued at about $32,000. Quarry LP purchased a new stake in Reliance in the 3rd quarter valued at about $32,000. Finally, Parkside Financial Bank & Trust boosted its position in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after buying an additional 55 shares during the period. 79.26% of the stock is currently owned by institutional investors.

Reliance Trading Up 1.8%

NYSE RS opened at $403.59 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The company has a market capitalization of $20.60 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.95. The company’s 50-day simple moving average is $370.03 and its two-hundred day simple moving average is $331.70. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83.

Reliance (NYSE:RS) last posted its quarterly 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. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the business posted $3.77 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Equities analysts forecast that Reliance, Inc. will post 19.14 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Reliance’s payout ratio is 32.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RS shares. KeyCorp raised their target price on shares of Reliance from $341.00 to $378.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a report on Wednesday, June 10th. Seaport Research Partners increased their price objective on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 target price for the company. Two investment 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.com, the stock has a consensus rating of “Hold” and an average target price of $357.83.

Insiders Place Their Bets

In other Reliance 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 sale, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.

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.