Geode Capital Management LLC Buys 2,549 Shares of Reliance, Inc. $RS

Geode Capital Management LLC lifted its stake in shares of Reliance, Inc. (NYSE:RS) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 938,601 shares of the industrial products company’s stock after purchasing an additional 2,549 shares during the period. Geode Capital Management LLC owned 1.79% of Reliance worth $270,349,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RS. Elevation Wealth Partners LLC bought a new position in Reliance during the fourth quarter valued at $28,000. Quarry LP bought a new position in Reliance during the third quarter valued at $32,000. Guerra Advisors Inc bought a new position in Reliance during the third quarter valued at $34,000. Elyxium Wealth LLC bought a new position in Reliance during the fourth quarter valued at $36,000. Finally, Advisory Services Network LLC bought a new position in Reliance during the third quarter valued at $39,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $358.12, for a total value of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares in the company, valued at approximately $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. 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 stock in a transaction 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 completion of the sale, the senior vice president owned 21,747 shares in the company, valued at $6,493,871.67. This trade represents a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.40% of the company’s stock.

Reliance Trading Up 0.7%

Shares of RS stock opened at $383.56 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $386.39. The company has a market capitalization of $19.58 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.18 and a beta of 0.95. The business’s fifty day moving average is $341.00 and its 200 day moving average is $318.33.

Reliance (NYSE:RS) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the business posted $3.77 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, May 22nd. Reliance’s dividend payout ratio (DPR) is 32.62%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Seaport Research Partners increased their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. KeyCorp increased their price objective on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, April 27th. The Goldman Sachs Group initiated coverage on Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price objective for the company. Wells Fargo & Company increased their target price on Reliance from $323.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Finally, BMO Capital Markets increased their target price on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $344.67.

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.