Pictet Asset Management Holding SA Increases Position in Reliance, Inc. $RS

Pictet Asset Management Holding SA increased its position in shares of Reliance, Inc. (NYSE:RS) by 135.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,052 shares of the industrial products company’s stock after acquiring an additional 28,793 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.10% of Reliance worth $15,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Reliance by 4.5% during the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after purchasing an additional 118,009 shares during the period. Boston Partners grew its position in shares of Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares during the period. Wellington Management Group LLP increased its stake in Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after purchasing an additional 343,598 shares during the last quarter. Franklin Resources Inc. increased its stake in Reliance by 4.8% in the third quarter. Franklin Resources Inc. now owns 1,142,551 shares of the industrial products company’s stock valued at $320,863,000 after purchasing an additional 51,894 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 buying an additional 2,549 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Up 0.1%

RS opened at $372.89 on Friday. The firm has a 50 day moving average price of $379.48 and a 200 day moving average price of $337.23. The company has a market cap of $19.04 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $419.83. 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 (NYSE:RS) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company posted $3.77 earnings per share. Reliance’s 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. Sell-side analysts expect that Reliance, Inc. will post 19.26 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $1.25 per share. The ex-dividend date was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. Reliance’s payout ratio is presently 32.62%.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 3,500 shares of the company’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 completion of the sale, the chief financial officer directly owned 16,840 shares of the company’s stock, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on RS shares. Seaport Research Partners raised their price target on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. KeyCorp increased their price objective on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $364.50.

Reliance Company 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.