Legal & General Group Plc Sells 10,744 Shares of Reliance, Inc. $RS

Legal & General Group Plc lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 4.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 228,842 shares of the industrial products company’s stock after selling 10,744 shares during the period. Legal & General Group Plc’s holdings in Reliance were worth $66,106,000 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 stock. New Age Alpha Advisors LLC boosted its position in shares of Reliance by 21.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 1,797 shares of the industrial products company’s stock worth $519,000 after purchasing an additional 312 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Reliance by 50.8% during the 4th quarter. Hantz Financial Services Inc. now owns 825 shares of the industrial products company’s stock worth $238,000 after purchasing an additional 278 shares in the last quarter. Swedbank AB boosted its position in shares of Reliance by 0.9% during the 4th quarter. Swedbank AB now owns 51,149 shares of the industrial products company’s stock worth $14,775,000 after purchasing an additional 466 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Reliance by 24.7% during the 4th quarter. William Blair Investment Management LLC now owns 280,335 shares of the industrial products company’s stock worth $80,980,000 after purchasing an additional 55,532 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new position in shares of Reliance during the 4th quarter worth about $24,154,000. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Reliance stock opened at $381.37 on Friday. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $386.39. The company’s 50 day moving average price is $339.22 and its two-hundred day moving average price is $317.22. 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 stock has a market cap of $19.47 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.17 and a beta of 0.95.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, topping 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 firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm earned $3.77 EPS. The company’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 analysts predict 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 will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is currently 32.62%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RS. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Seaport Research Partners lifted their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. BMO Capital Markets raised their price target on shares of Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $344.67.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of Reliance stock in a transaction that occurred on 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 transaction, the chief financial officer 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP William A. Smith II sold 6,615 shares of Reliance stock in a transaction that occurred 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 transaction, the senior vice president directly owned 21,747 shares in the company, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

Reliance 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.