Assenagon Asset Management S.A. Purchases 5,144 Shares of Reliance, Inc. $RS

Assenagon Asset Management S.A. increased its position in Reliance, Inc. (NYSE:RS) by 35.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,467 shares of the industrial products company’s stock after purchasing an additional 5,144 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Reliance were worth $5,467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. Boston Partners grew its stake in shares of Reliance by 72.6% in the 2nd quarter. Boston Partners now owns 1,763,317 shares of the industrial products company’s stock valued at $552,461,000 after purchasing an additional 741,417 shares during the period. Franklin Resources Inc. increased its holdings in shares of Reliance by 2.5% during the second quarter. Franklin Resources Inc. now owns 1,090,657 shares of the industrial products company’s stock worth $342,357,000 after buying an additional 26,545 shares in the last quarter. Norges Bank acquired a new stake in shares of Reliance during the second quarter worth approximately $207,741,000. American Century Companies Inc. grew its holdings in shares of Reliance by 6.5% during the second quarter. American Century Companies Inc. now owns 626,890 shares of the industrial products company’s stock worth $196,781,000 after purchasing an additional 38,012 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Reliance by 11.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 461,285 shares of the industrial products company’s stock valued at $133,196,000 after buying an additional 46,377 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Down 1.9%

Shares of Reliance stock opened at $290.84 on Monday. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. The business’s 50 day simple moving average is $279.14 and its 200 day simple moving average is $292.99. The firm has a market cap of $15.21 billion, a PE ratio of 21.26, a P/E/G ratio of 1.86 and a beta of 0.92.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.54 billion. Reliance had a net margin of 5.23% and a return on equity of 10.37%. Reliance’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $3.64 earnings per share. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Reliance’s payout ratio is currently 35.09%.

Wall Street Analysts Forecast Growth

RS has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Wells Fargo & Company boosted their price target on shares of Reliance from $284.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. reduced their price objective on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a research report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $317.25.

Insider Activity

In other news, CEO Karla R. Lewis sold 5,809 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.50, for a total value of $1,646,851.50. Following the completion of the sale, the chief executive officer owned 84,421 shares of the company’s stock, valued at approximately $23,933,353.50. This represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen Paul Koch sold 3,066 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $283.56, for a total transaction of $869,394.96. Following the transaction, the chief operating officer owned 14,021 shares in the company, valued at approximately $3,975,794.76. The trade was a 17.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.35% of the company’s stock.

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.