Mirabella Financial Services LLP Has $1.48 Million Stock Position in Reliance, Inc. $RS

Mirabella Financial Services LLP increased its stake in shares of Reliance, Inc. (NYSE:RS) by 160.4% during the third quarter, HoldingsChannel reports. The fund owned 5,284 shares of the industrial products company’s stock after acquiring an additional 3,255 shares during the quarter. Mirabella Financial Services LLP’s holdings in Reliance were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Boston Partners raised its position in shares of Reliance by 72.6% during the second quarter. Boston Partners now owns 1,763,317 shares of the industrial products company’s stock valued at $552,461,000 after buying an additional 741,417 shares during the last quarter. Norges Bank acquired a new stake in Reliance during the second quarter worth about $207,741,000. Alliancebernstein L.P. grew its position in Reliance by 899.4% during the third quarter. Alliancebernstein L.P. now owns 733,528 shares of the industrial products company’s stock worth $205,997,000 after buying an additional 660,128 shares in the last quarter. Wellington Management Group LLP increased its stake in 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 valued at $479,870,000 after acquiring an additional 343,598 shares during the period. Finally, State Street Corp increased its stake in Reliance by 6.8% during the third quarter. State Street Corp now owns 2,597,755 shares of the industrial products company’s stock valued at $729,528,000 after acquiring an additional 166,214 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on RS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. BMO Capital Markets cut Reliance from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $340.00 to $320.00 in a research report on Friday, February 20th. KeyCorp restated an “overweight” rating on shares of Reliance in a research note on Wednesday, January 7th. JPMorgan Chase & Co. downgraded shares of Reliance from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $340.00 to $330.00 in a research note on Friday, February 20th. Finally, Wells Fargo & Company boosted their price target on shares of Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $324.33.

Insiders Place Their Bets

In other Reliance news, SVP William A. Smith II sold 6,615 shares of the stock in a transaction on 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 transaction, the senior vice president directly owned 21,747 shares in the company, valued at $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stephen Paul Koch sold 24,060 shares of Reliance stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $321.62, for a total value of $7,738,177.20. Following the transaction, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.35% of the company’s stock.

Reliance Stock Down 0.5%

Shares of RS opened at $294.61 on Friday. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $323.13 and a two-hundred day moving average price of $297.47. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.12 and a beta of 0.91. Reliance, Inc. has a 12 month low of $250.07 and a 12 month high of $365.59.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.40). Reliance had a net margin of 5.17% and a return on equity of 10.45%. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Reliance’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. Reliance’s dividend payout ratio (DPR) is currently 35.79%.

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.