BNP Paribas Financial Markets trimmed its holdings in shares of Reliance, Inc. (NYSE:RS – Free Report) by 14.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,041 shares of the industrial products company’s stock after selling 4,396 shares during the quarter. BNP Paribas Financial Markets’ holdings in Reliance were worth $7,522,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of RS. Elevation Wealth Partners LLC bought a new stake in shares of Reliance during the fourth quarter worth approximately $28,000. Quarry LP bought a new stake in shares of Reliance during the third quarter worth approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of Reliance during the fourth quarter worth approximately $36,000. Advisory Services Network LLC bought a new stake in shares of Reliance during the third quarter worth approximately $39,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Reliance during the fourth quarter worth approximately $40,000. 79.26% of the stock is owned by institutional investors.
Analyst Ratings Changes
RS has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Reliance from $343.00 to $376.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. BMO Capital Markets boosted their price objective on shares of Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price objective for the company. Finally, Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $352.33.
Insider Buying and Selling at Reliance
In other 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.
Reliance Stock Up 1.5%
Reliance stock opened at $402.35 on Wednesday. The stock has a market capitalization of $20.54 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.23 and a beta of 0.95. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $403.68. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $352.86 and a 200-day moving average of $323.66.
Reliance (NYSE:RS – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.53. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, equities research analysts anticipate that Reliance, Inc. will post 18.98 EPS for the current fiscal year.
Reliance Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 22nd. Reliance’s dividend payout ratio is 32.62%.
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.
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