Swedbank AB Grows Holdings in Reliance, Inc. $RS

Swedbank AB raised its position in shares of Reliance, Inc. (NYSE:RS) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 50,683 shares of the industrial products company’s stock after purchasing an additional 4,264 shares during the period. Swedbank AB’s holdings in Reliance were worth $14,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of Reliance in the first quarter worth $80,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Reliance by 50.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,853 shares of the industrial products company’s stock worth $824,000 after buying an additional 961 shares during the period. Jump Financial LLC purchased a new stake in Reliance in the 1st quarter worth $200,000. Transamerica Financial Advisors LLC raised its holdings in Reliance by 595.5% during the first quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 131 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Reliance by 1.1% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 17,822 shares of the industrial products company’s stock valued at $5,146,000 after acquiring an additional 196 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Up 0.3%

NYSE RS opened at $296.35 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. The company has a market capitalization of $15.50 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.89 and a beta of 0.92. Reliance, Inc. has a one year low of $250.07 and a one year high of $347.43. The stock has a 50 day moving average price of $280.87 and a 200-day moving average price of $292.56.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). Reliance had a return on equity of 10.37% and a net margin of 5.23%.The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm posted $3.64 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Reliance’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Ratings Changes

Several research firms recently issued reports on RS. JPMorgan Chase & Co. cut their target price on Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. BMO Capital Markets cut their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a report on Monday. Finally, Wells Fargo & Company raised their target price on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $317.25.

Insider Activity

In other news, COO Stephen Paul Koch sold 3,066 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.56, for a total value of $869,394.96. Following the completion of the sale, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at $3,975,794.76. This trade represents a 17.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Karla R. Lewis sold 5,809 shares of Reliance stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.50, for a total value of $1,646,851.50. Following the completion of the transaction, the chief executive officer owned 84,421 shares of the company’s stock, valued at approximately $23,933,353.50. This trade represents a 6.44% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.35% of the company’s stock.

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.