Tredje AP fonden Buys 6,955 Shares of Reliance, Inc. $RS

Tredje AP fonden grew its position in Reliance, Inc. (NYSE:RS) by 73.4% during the fourth quarter, HoldingsChannel reports. The firm owned 16,428 shares of the industrial products company’s stock after buying an additional 6,955 shares during the quarter. Tredje AP fonden’s holdings in Reliance were worth $4,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RS. Royal Bank of Canada lifted its position in shares of Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC increased its position in Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock worth $1,635,000 after buying an additional 258 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after buying an additional 131 shares during the last quarter. Walleye Capital LLC boosted its position in shares of Reliance by 2,192.5% in the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 1,162 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Reliance in the second quarter valued at approximately $1,318,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Stock Down 0.8%

Shares of RS stock opened at $357.09 on Wednesday. Reliance, Inc. has a one year low of $260.31 and a one year high of $381.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The stock has a fifty day moving average price of $327.79 and a 200 day moving average price of $312.22. The stock has a market cap of $18.23 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.95.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.53. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts predict that Reliance, Inc. will post 18.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. Reliance’s dividend payout ratio (DPR) is currently 32.62%.

Insiders Place Their Bets

In other news, COO Stephen Paul Koch sold 24,060 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the completion of the transaction, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. This represents a 63.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Smith II sold 6,615 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $298.61, for a total value of $1,975,305.15. Following the transaction, the senior vice president owned 21,747 shares of the company’s stock, valued at $6,493,871.67. This trade represents a 23.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,175 shares of company stock worth $10,966,902 over the last quarter. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

RS has been the topic of a number of research reports. Seaport Research Partners boosted their target price on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group assumed coverage on shares of Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target for the company. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. BMO Capital Markets boosted their price objective on shares of Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Finally, Zacks Research raised shares of Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $344.67.

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.