Hsbc Holdings PLC Has $84.76 Million Position in Reliance, Inc. $RS

Hsbc Holdings PLC boosted its position in Reliance, Inc. (NYSE:RS) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 226,697 shares of the industrial products company’s stock after buying an additional 16,179 shares during the period. Hsbc Holdings PLC’s holdings in Reliance were worth $84,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. Costello Asset Management INC bought a new stake in shares of Reliance in the first quarter valued at about $30,000. Brown Brothers Harriman & Co. increased its position in Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Quarry LP acquired a new stake in Reliance in the 3rd quarter worth about $32,000. Greenline Wealth Management LLC acquired a new stake in Reliance in the 4th quarter worth about $32,000. Finally, Parkside Financial Bank & Trust boosted its holdings 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 purchasing an additional 55 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Price Performance

RS stock opened at $401.15 on Monday. The company’s 50-day moving average price is $396.94 and its two-hundred day moving average price is $363.83. The firm has a market cap of $20.48 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.03 and a beta of 0.96. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RS shares. Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Wall Street Zen cut Reliance from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. reduced their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, KeyCorp lifted their price objective on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have given 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 presently has a consensus rating of “Hold” and an average target price of $377.50.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares in the company, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is 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.