Hsbc Holdings PLC grew its position in Reliance, Inc. (NYSE:RS – Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 236,496 shares of the industrial products company’s stock after buying an additional 2,945 shares during the period. Hsbc Holdings PLC’s holdings in Reliance were worth $68,311,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of RS. CWA Asset Management Group LLC purchased a new position in Reliance in the fourth quarter worth $10,297,000. Assenagon Asset Management S.A. lifted its holdings in shares of Reliance by 24.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,284 shares of the industrial products company’s stock valued at $7,015,000 after purchasing an additional 4,817 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Reliance by 49.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 342,796 shares of the industrial products company’s stock valued at $96,268,000 after purchasing an additional 113,378 shares during the last quarter. ProCore Advisors LLC acquired a new stake in shares of Reliance in the 4th quarter worth $18,787,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Reliance in the 3rd quarter worth $1,298,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.
Insider Activity
In related news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the completion of the sale, the chief financial officer owned 16,840 shares of the company’s stock, valued at $6,030,740.80. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.
Reliance Price Performance
Reliance (NYSE:RS – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business posted $3.77 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts forecast that Reliance, Inc. will post 19.14 earnings per share for the current year.
Reliance Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid 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 (DPR) is presently 32.62%.
Analyst Ratings Changes
Several research analysts recently weighed in on RS shares. KeyCorp boosted their target price on Reliance from $341.00 to $378.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their price target on Reliance from $345.00 to $378.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. The Goldman Sachs Group began coverage on Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target on the stock. BMO Capital Markets increased their price objective on shares of Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $357.83.
Check Out Our Latest Stock Analysis on RS
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.
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