Hsbc Holdings PLC Raises Stock Position in Reliance, Inc. $RS

Hsbc Holdings PLC raised its holdings in shares of Reliance, Inc. (NYSE:RS) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund 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 reporting period.

Several other large investors have also made changes to their positions in the business. Elevation Wealth Partners LLC bought a new position in shares of Reliance in the fourth quarter worth about $28,000. Brown Brothers Harriman & Co. raised its stake in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 50 shares during the period. Greenline Wealth Management LLC purchased a new position in Reliance in the 4th quarter worth approximately $32,000. Quarry LP purchased a new position in Reliance in the 3rd quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust boosted its stake in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Stock Up 0.2%

Shares of NYSE:RS opened at $372.89 on Monday. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.15 and a beta of 0.97. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $419.83. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $379.92 and a 200 day moving average price of $337.79.

Reliance (NYSE:RS) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. The firm’s revenue for the quarter 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 predict that Reliance, Inc. will post 19.26 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s payout ratio is 32.62%.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the business’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 transaction of $1,253,420.00. Following the transaction, the chief financial officer owned 16,840 shares of the company’s stock, valued at approximately $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RS. Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wells Fargo & Company upped their target price on shares of Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Reliance currently has a consensus rating of “Hold” and a consensus target price of $364.50.

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.