Assenagon Asset Management S.A. Sells 11,646 Shares of Reliance, Inc. $RS

Assenagon Asset Management S.A. decreased its holdings in shares of Reliance, Inc. (NYSE:RS) by 48.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,638 shares of the industrial products company’s stock after selling 11,646 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Reliance were worth $3,841,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new stake in Reliance in the fourth quarter valued at approximately $10,297,000. JPMorgan Chase & Co. increased its holdings in shares of Reliance by 49.4% during the third quarter. JPMorgan Chase & Co. now owns 342,796 shares of the industrial products company’s stock worth $96,268,000 after buying an additional 113,378 shares in the last quarter. ProCore Advisors LLC bought a new position in shares of Reliance in the 4th quarter valued at $18,787,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Reliance in the 3rd quarter valued at $1,298,000. Finally, Arjuna Capital acquired a new stake in shares of Reliance during the 4th quarter valued at $1,838,000. Institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RS shares. Seaport Research Partners boosted their price objective on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. BMO Capital Markets boosted their price target on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Wells Fargo & Company upped their price objective on Reliance from $343.00 to $376.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group started coverage on shares of Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price objective for the company. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $364.50.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by insiders.

Reliance Stock Down 2.9%

Shares of NYSE:RS opened at $374.64 on Tuesday. The firm has a market cap of $19.13 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.19 and a beta of 0.95. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $419.83. The business has a fifty day simple moving average of $377.02 and a 200 day simple moving average of $335.47.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.37% and a net margin of 5.42%.The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts predict that Reliance, Inc. will post 19.26 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid 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 of this dividend was Friday, May 22nd. Reliance’s payout ratio is currently 32.62%.

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.