Reliance, Inc. $RS Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Reliance, Inc. (NYSE:RS) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 528,629 shares of the industrial products company’s stock after acquiring an additional 62,270 shares during the quarter. Bank of New York Mellon Corp’s holdings in Reliance were worth $152,705,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RS. Elevation Wealth Partners LLC acquired a new position in shares of Reliance in the 4th quarter worth approximately $28,000. Quarry LP acquired a new position in Reliance during the 3rd quarter valued at approximately $32,000. Elyxium Wealth LLC acquired a new position in Reliance during the 4th quarter valued at approximately $36,000. Advisory Services Network LLC acquired a new position in Reliance during the 3rd quarter valued at approximately $39,000. Finally, Sound Income Strategies LLC acquired a new position in Reliance during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 6,615 shares of Reliance stock in a transaction on Monday, March 9th. The stock was sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the transaction, the senior vice president owned 21,747 shares in the company, valued at approximately $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction on Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the transaction, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. This represents a 17.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company’s stock.

Reliance Stock Down 0.6%

RS opened at $394.16 on Friday. The stock’s fifty day moving average is $348.86 and its 200-day moving average is $321.40. The company has a market capitalization of $20.12 billion, a PE ratio of 25.71, a P/E/G ratio of 1.22 and a beta of 0.95. 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 one year low of $260.31 and a one year high of $401.41.

Reliance (NYSE:RS) last announced its earnings results 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. The company 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%.Reliance’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, equities analysts predict that Reliance, Inc. will post 18.98 EPS for the current fiscal 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 given a dividend of $1.25 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RS shares. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research note on Thursday, April 30th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. The Goldman Sachs Group assumed coverage on Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 target price on the stock. Finally, Wells Fargo & Company boosted their price objective on Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $352.33.

About Reliance

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.