Fifth Third Bancorp Acquires 21,282 Shares of Reliance, Inc. $RS

Fifth Third Bancorp raised its holdings in shares of Reliance, Inc. (NYSE:RS) by 3,120.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,964 shares of the industrial products company’s stock after purchasing an additional 21,282 shares during the quarter. Fifth Third Bancorp’s holdings in Reliance were worth $6,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC acquired a new position in Reliance in the 4th quarter valued at about $28,000. Costello Asset Management INC bought a new position in shares of Reliance during the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. increased its stake in shares of Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares during the period. Greenline Wealth Management LLC acquired a new stake in Reliance during the 4th quarter worth approximately $32,000. Finally, Quarry LP acquired a new stake in Reliance during the 3rd quarter worth approximately $32,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RS. BMO Capital Markets upped their price objective on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a research note on Thursday, April 30th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Seaport Research Partners increased their target price on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $363.50.

Insiders Place Their Bets

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Reliance Stock Up 1.2%

RS stock opened at $396.44 on Friday. The stock has a market capitalization of $20.24 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 1.21 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. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $419.83. The firm has a 50-day moving average price of $383.86 and a 200-day moving average price of $343.61.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 5.42% and a return on equity of 11.37%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts anticipate that Reliance, Inc. will post 19.24 EPS for the current fiscal year.

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.