Bank of New York Mellon Corp Sells 21,745 Shares of Reliance, Inc. $RS

Bank of New York Mellon Corp trimmed its stake in shares of Reliance, Inc. (NYSE:RS) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 506,884 shares of the industrial products company’s stock after selling 21,745 shares during the period. Bank of New York Mellon Corp’s holdings in Reliance were worth $154,052,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Venturi Wealth Management LLC lifted its stake in shares of Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after acquiring an additional 34 shares during the period. First Citizens Bank & Trust Co. increased its position in Reliance by 1.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 35 shares during the period. Kathmere Capital Management LLC raised its holdings in Reliance by 4.9% during the 4th quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 37 shares during the last quarter. Root Financial Partners LLC raised its holdings in Reliance by 27.6% during the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 40 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Reliance by 4.4% during the 4th quarter. GAMMA Investing LLC now owns 965 shares of the industrial products company’s stock valued at $279,000 after purchasing an additional 41 shares during the period. 79.26% of the stock is owned by institutional investors.

Reliance News Roundup

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Reliance Industries reported strong Q1 results, with revenue rising 24.5% to Rs 3.4 lakh crore and recurring profit up 6%, reinforcing optimism around the company’s operating momentum. Reliance Industries Q1 revenue jumps 24.5% to Rs 3.4 lakh crore, recurring PAT climbs 6%
• Positive Sentiment: Jio Platforms posted Q1 revenue of Rs 45,961 crore and a 9% rise in profit, while Jio’s ARPU increased to Rs 215.6, signaling healthy growth in Reliance’s telecom arm. Jio Platforms Q1 earnings: IPO-bound firm logs Rs 45,961 crore revenue, profit up 9%
• Positive Sentiment: Reliance Retail reported Q1 revenue growth of 7.4% to Rs 90,408 crore, adding another sign of steady demand across the consumer business. Reliance Retail’s Q1 FY27 revenue up 7.4% to Rs 90,408 crore
• Positive Sentiment: Reliance promoters increased their stake by about 0.5% with share purchases worth roughly Rs 8,500-9,000 crore, which can be read as a strong insider vote of confidence. Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
• Neutral Sentiment: Shares had already been trending up ahead of the results on expectations of strong Q1 performance, suggesting much of the optimism was built into the stock before the announcement. Reliance Industries Q1 Results Live: Stock gains 1.86% ahead of Q1 results; O2C, Jio growth key to earnings
• Neutral Sentiment: Analysts also noted concerns that Reliance may be modestly overvalued and JPMorgan lowered its price target, which could temper enthusiasm even after the strong results. Reliance (RS) Could Be 5% Overvalued On Rising Earnings Expectations
• Negative Sentiment: JPMorgan Chase & Co. lowered its price target on Reliance (RS) to $376, a potential caution flag for U.S.-listed investors. Reliance (NYSE:RS) Price Target Lowered to $376.00 at JPMorgan Chase & Co.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RS shares. Seaport Research Partners lifted their price target 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. JPMorgan Chase & Co. cut their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. KeyCorp raised their price objective on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. The Goldman Sachs Group began coverage on shares of Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 target price for the company. Finally, Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Reliance currently has an average rating of “Hold” and an average price target of $363.50.

Reliance Trading Up 0.1%

Shares of NYSE RS opened at $396.28 on Monday. The company’s fifty day moving average is $384.40 and its 200-day moving average is $344.34. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.22 and a beta of 0.97. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $419.83. 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 (NYSE:RS) last posted its earnings results 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 firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company posted $3.77 earnings per share. The company’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. Equities research analysts predict that Reliance, Inc. will post 19.18 EPS for the current year.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

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.