New York State Teachers Retirement System Trims Stake in Reliance, Inc. $RS

New York State Teachers Retirement System lowered its position in Reliance, Inc. (NYSE:RS) by 8.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,490 shares of the industrial products company’s stock after selling 4,528 shares during the period. New York State Teachers Retirement System owned 0.10% of Reliance worth $15,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of Reliance during the 4th quarter valued at $10,297,000. Assenagon Asset Management S.A. increased its stake in shares of Reliance by 24.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,284 shares of the industrial products company’s stock worth $7,015,000 after acquiring an additional 4,817 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Reliance by 49.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 342,796 shares of the industrial products company’s stock valued at $96,268,000 after acquiring an additional 113,378 shares during the period. ProCore Advisors LLC purchased a new position in Reliance during the 4th quarter valued at about $18,787,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Reliance during the third quarter worth about $1,298,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Trading Up 0.2%

Shares of NYSE RS opened at $372.89 on Friday. The firm’s 50 day moving average price is $379.92 and its 200-day moving average price is $337.48. Reliance, Inc. has a 52-week low of $260.31 and a 52-week 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. The company has a market cap of $19.04 billion, a PE ratio of 24.32, a P/E/G ratio of 1.15 and a beta of 0.97.

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 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 company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm earned $3.77 earnings per share. The firm’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, equities research analysts expect that Reliance, Inc. will post 19.26 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. BMO Capital Markets upped their price target on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a research report on Thursday, April 30th. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Reliance currently has an average rating of “Hold” and an average price target of $364.50.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction 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 directly owned 16,840 shares of the company’s stock, valued at $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

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.