Burney Co. Decreases Position in Reliance, Inc. $RS

Burney Co. decreased its position in Reliance, Inc. (NYSE:RS) by 19.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,618 shares of the industrial products company’s stock after selling 3,202 shares during the period. Burney Co.’s holdings in Reliance were worth $4,139,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC acquired a new stake in Reliance in the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. increased its holdings 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 acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in Reliance during the fourth quarter worth about $32,000. Quarry LP acquired a new position in Reliance during the third quarter worth about $32,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Reliance by 87.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of Reliance stock opened at $380.33 on Wednesday. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $419.83. The stock has a market capitalization of $19.42 billion, a P/E ratio of 24.81, a PEG ratio of 1.16 and a beta of 0.97. 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 business’s fifty day moving average price is $381.16 and its 200 day moving average price is $338.96.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.63 by $0.53. The company had revenue of $4.03 billion during 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 firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, research analysts anticipate that Reliance, Inc. will post 19.26 earnings per share for the current year.

Reliance Dividend Announcement

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

Analysts Set New Price Targets

RS has been the topic of several research reports. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wells Fargo & Company upped their target price on Reliance from $343.00 to $376.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. BMO Capital Markets increased their target price on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Seaport Research Partners upped their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two equities research 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $364.50.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the transaction, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% 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.