Louisiana State Employees Retirement System Makes New $4.62 Million Investment in Reliance, Inc. $RS

Louisiana State Employees Retirement System purchased a new position in shares of Reliance, Inc. (NYSE:RS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,200 shares of the industrial products company’s stock, valued at approximately $4,620,000.

A number of other institutional investors have also modified their holdings of RS. Norges Bank acquired a new position in Reliance during the 4th quarter worth about $207,691,000. Alliancebernstein L.P. grew its position in Reliance by 899.4% in the 3rd quarter. Alliancebernstein L.P. now owns 733,528 shares of the industrial products company’s stock valued at $205,997,000 after acquiring an additional 660,128 shares in the last quarter. Boston Partners increased its stake in Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after purchasing an additional 484,286 shares during the period. Wellington Management Group LLP lifted its position in shares of 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 worth $479,870,000 after purchasing an additional 343,598 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Reliance by 1,019.0% during the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after purchasing an additional 311,323 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Price Performance

Shares of NYSE RS opened at $385.22 on Friday. The stock’s 50-day simple moving average is $375.91 and its 200-day simple moving average is $334.43. The firm has a market capitalization of $19.67 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two 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.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts forecast that Reliance, Inc. will post 19.26 EPS for the current fiscal year.

Reliance Dividend Announcement

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

Insider Activity

In related news, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $358.12, for a total value 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 trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

RS has been the subject of a number of research reports. Weiss Ratings upgraded shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wells Fargo & Company increased their target price on shares of Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. KeyCorp boosted their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. 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, Reliance currently has a consensus rating of “Hold” and an average 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.