CenterBook Partners LP Sells 8,157 Shares of Reliance, Inc. $RS

CenterBook Partners LP lowered its stake in shares of Reliance, Inc. (NYSE:RS) by 69.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,568 shares of the industrial products company’s stock after selling 8,157 shares during the period. CenterBook Partners LP’s holdings in Reliance were worth $1,031,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RS. State Street Corp lifted its stake in Reliance by 6.8% during the 3rd 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 in the last quarter. Boston Partners grew its stake in shares of Reliance by 27.5% in the 3rd 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 raised its holdings in shares of 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. lifted its position 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 valued at $320,863,000 after purchasing an additional 51,894 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 valued at $270,349,000 after purchasing an additional 2,549 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $358.12, for a total value of $1,253,420.00. Following the sale, the chief financial officer directly owned 16,840 shares in the company, valued at $6,030,740.80. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

Reliance News Summary

Here are the key news stories impacting Reliance this week:

• Neutral Sentiment: JPMorgan raised its price target on Reliance, Inc. (RS) to $378 from $345, but kept a neutral rating, suggesting limited upside from current levels. Benzinga
• Positive Sentiment: Reliance-related news around Meta partnering on an AI-focused data center in Jamnagar and a Rs 855 crore JV has sparked optimism in the broader Reliance complex, potentially supporting sentiment for the name. Financial Express
• Positive Sentiment: Reports that Reliance shares gained after the Meta AI data center partnership announcement suggest the market is viewing the AI infrastructure tie-up as a growth catalyst. GoodReturns
• Neutral Sentiment: Reliance, Inc. presented at the Wells Fargo Industrials & Materials Conference, which may have provided additional color on the business but does not appear to be a major new catalyst by itself. Seeking Alpha
• Neutral Sentiment: Brokerage updates showing a consensus Hold rating reinforce a cautious but not bearish outlook for Reliance, Inc. (RS). American Banking News

Analyst Ratings Changes

RS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. BMO Capital Markets boosted their target price on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. KeyCorp upped their target price on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price target on Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. 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.com, the stock has an average rating of “Hold” and an average target price of $357.83.

Reliance Stock Performance

Shares of RS stock opened at $395.49 on Thursday. 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 firm has a market cap of $20.19 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 1.24 and a beta of 0.95. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $409.66. The firm’s 50-day simple moving average is $354.75 and its two-hundred day simple moving average is $324.57.

Reliance (NYSE:RS) last released its 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 during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $3.77 EPS. The company’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. As a group, equities analysts forecast that Reliance, Inc. will post 18.98 earnings per share for the current year.

Reliance Announces Dividend

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