Burney Co. Cuts Stake in Reliance, Inc. $RS

Burney Co. lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 19.0% during the first quarter, HoldingsChannel reports. The firm owned 13,618 shares of the industrial products company’s stock after selling 3,202 shares during the period. Burney Co.’s holdings in Reliance were worth $4,139,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Elevation Wealth Partners LLC acquired a new position in Reliance during the 4th quarter worth approximately $28,000. Brown Brothers Harriman & Co. grew its position in Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC purchased a new stake in shares of Reliance during the fourth quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Reliance during the third quarter valued at approximately $32,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 55 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 16,840 shares in the company, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

RS has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target for the company. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Seaport Research Partners upped their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. KeyCorp raised their target price on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, BMO Capital Markets lifted their target price on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Reliance currently has a consensus rating of “Hold” and a consensus price target of $364.50.

Reliance Stock Performance

Shares of NYSE RS opened at $380.33 on Wednesday. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $381.16 and its two-hundred day moving average price is $338.96. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $419.83. The stock has a market capitalization of $19.42 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.16 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, topping analysts’ consensus estimates of $4.63 by $0.53. The business had revenue of $4.03 billion for 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%.The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, sell-side analysts forecast that Reliance, Inc. will post 19.26 earnings per share for the current year.

Reliance Announces Dividend

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

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.