Reliance, Inc. $RS Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in shares of Reliance, Inc. (NYSE:RS) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,004 shares of the industrial products company’s stock after selling 1,909 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Reliance were worth $8,207,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Reliance by 4.5% in the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after acquiring an additional 118,009 shares during the period. Boston Partners boosted its holdings in shares of Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after purchasing an additional 484,286 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Reliance by 25.2% in 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 purchasing an additional 343,598 shares during the period. Geode Capital Management LLC lifted its position in Reliance by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock worth $270,349,000 after buying an additional 2,549 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Reliance by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 735,212 shares of the industrial products company’s stock worth $212,390,000 after buying an additional 55,344 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

RS has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. BMO Capital Markets upped their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research report on Thursday, April 30th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. lowered their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Reliance currently has an average rating of “Hold” and a consensus target price of $378.67.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by company insiders.

Reliance Price Performance

Reliance stock opened at $415.72 on Wednesday. The firm has a fifty day moving average of $392.97 and a 200-day moving average of $352.73. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $419.83. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $21.23 billion, a P/E ratio of 24.17, a PEG ratio of 1.10 and a beta of 0.96.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the business posted $4.43 EPS. The business’s quarterly revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts predict that Reliance, Inc. will post 21.33 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is 29.07%.

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.