New York State Teachers Retirement System Sells 4,528 Shares of Reliance, Inc. $RS

New York State Teachers Retirement System lessened its stake in Reliance, Inc. (NYSE:RS) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,490 shares of the industrial products company’s stock after selling 4,528 shares during the period. New York State Teachers Retirement System’s holdings in Reliance were worth $15,649,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Reliance in the 4th quarter worth $207,691,000. Alliancebernstein L.P. grew its holdings in shares of Reliance by 899.4% in the third quarter. Alliancebernstein L.P. now owns 733,528 shares of the industrial products company’s stock worth $205,997,000 after acquiring an additional 660,128 shares during the period. Boston Partners increased its position in Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after acquiring an additional 484,286 shares during the last quarter. Wellington Management Group LLP increased its position in Reliance by 25.2% during 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 acquiring an additional 343,598 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Reliance by 1,019.0% in the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock valued at $98,758,000 after acquiring an additional 311,323 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Performance

Shares of RS opened at $372.89 on Friday. The business has a 50-day simple moving average of $379.92 and a two-hundred day simple moving average of $337.48. 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, Inc. has a 52 week low of $260.31 and a 52 week high of $419.83. The stock has a market cap of $19.04 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.15 and a beta of 0.97.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, analysts expect that Reliance, Inc. will post 19.26 EPS for the current year.

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued 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 payout ratio is currently 32.62%.

Insiders Place Their Bets

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RS. KeyCorp raised their target price on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. The Goldman Sachs Group began coverage on shares of Reliance in a research report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target for the company. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective on the stock. in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Reliance from $345.00 to $378.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Two 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $364.50.

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.