Geode Capital Management LLC Grows Stock Holdings in Reliance, Inc. $RS

Geode Capital Management LLC raised its position in shares of Reliance, Inc. (NYSE:RS) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 938,601 shares of the industrial products company’s stock after purchasing an additional 2,549 shares during the period. Geode Capital Management LLC’s holdings in Reliance were worth $270,349,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC raised its position in Reliance by 4.9% during the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 37 shares in the last quarter. Choreo LLC grew its stake in shares of Reliance by 2.9% during the third quarter. Choreo LLC now owns 1,366 shares of the industrial products company’s stock valued at $383,000 after buying an additional 39 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Reliance by 4.4% during the fourth quarter. GAMMA Investing LLC now owns 965 shares of the industrial products company’s stock valued at $279,000 after buying an additional 41 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Reliance by 1.5% during the third quarter. Fisher Asset Management LLC now owns 2,935 shares of the industrial products company’s stock valued at $824,000 after buying an additional 43 shares during the last quarter. Finally, Advisory Research Inc. grew its stake in shares of Reliance by 2.6% during the third quarter. Advisory Research Inc. now owns 1,782 shares of the industrial products company’s stock valued at $500,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Stock Performance

Shares of RS opened at $383.56 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. Reliance, Inc. has a one year low of $260.31 and a one year high of $386.39. The company has a 50-day simple moving average of $341.00 and a two-hundred day simple moving average of $318.33. The firm has a market capitalization of $19.58 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.18 and a beta of 0.95.

Reliance (NYSE:RS) last issued its quarterly earnings data 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. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business posted $3.77 earnings per share. Reliance’s quarterly revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, analysts anticipate that Reliance, Inc. will post 18.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s dividend payout ratio (DPR) is 32.62%.

Insider Activity

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 16,840 shares in the company, valued at $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP William A. Smith II sold 6,615 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 21,747 shares of the company’s stock, valued at $6,493,871.67. This trade represents a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RS. JPMorgan Chase & Co. raised their price objective on Reliance from $340.00 to $345.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. KeyCorp raised their price objective on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. BMO Capital Markets raised their price objective on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $344.67.

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.