OP Asset Management Ltd Makes New $1.73 Million Investment in Reliance, Inc. $RS

OP Asset Management Ltd purchased a new position in shares of Reliance, Inc. (NYSE:RS) during the first quarter, HoldingsChannel.com reports. The fund purchased 5,691 shares of the industrial products company’s stock, valued at approximately $1,730,000.

Several other institutional investors have also modified their holdings of RS. State Street Corp lifted its stake in Reliance by 4.5% in the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock valued at $784,503,000 after buying an additional 118,009 shares in the last quarter. Boston Partners increased its position in shares of Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after acquiring an additional 343,598 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Reliance by 4.8% during the third quarter. Franklin Resources Inc. now owns 1,142,551 shares of the industrial products company’s stock worth $320,863,000 after acquiring an additional 51,894 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Reliance by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock worth $270,349,000 after acquiring an additional 2,549 shares during the period. Institutional investors own 79.26% of the company’s stock.

Insiders Place Their Bets

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the transaction, the chief financial officer owned 16,840 shares of the company’s stock, valued at $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.

Reliance Stock Down 0.1%

Shares of RS stock opened at $385.22 on Monday. The firm’s fifty day moving average price is $375.91 and its two-hundred day moving average price is $334.81. 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 1 year low of $260.31 and a 1 year high of $419.83. The firm has a market capitalization of $19.67 billion, a P/E ratio of 25.13, a PEG ratio of 1.19 and a beta of 0.95.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.53. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, equities analysts predict that Reliance, Inc. will post 19.26 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RS shares. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a research note on Thursday, April 30th. The Goldman Sachs Group began coverage on Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target on the stock. KeyCorp upped their price objective on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and an average price target of $364.50.

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.