Franklin Resources Inc. Decreases Position in Reliance, Inc. $RS

Franklin Resources Inc. decreased its stake in Reliance, Inc. (NYSE:RS) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,108,090 shares of the industrial products company’s stock after selling 34,461 shares during the period. Franklin Resources Inc. owned approximately 2.12% of Reliance worth $320,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RS. Elevation Wealth Partners LLC purchased a new stake in shares of Reliance in the fourth quarter worth about $28,000. Quarry LP purchased a new position in Reliance in the third quarter valued at about $32,000. Elyxium Wealth LLC purchased a new position in Reliance in the fourth quarter valued at about $36,000. Advisory Services Network LLC purchased a new position in Reliance in the third quarter valued at about $39,000. Finally, Sound Income Strategies LLC purchased a new position in Reliance in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Trading Up 0.5%

Shares of NYSE RS opened at $396.54 on Tuesday. The stock’s 50 day moving average price is $350.80 and its two-hundred day moving average price is $322.71. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $401.41. The stock has a market capitalization of $20.24 billion, a P/E ratio of 25.87, a PEG ratio of 1.22 and a beta of 0.95. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Reliance’s revenue for the quarter 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, analysts anticipate that Reliance, Inc. will post 18.98 earnings per share for the current fiscal year.

Reliance Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on RS. 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 report on Thursday, April 30th. Wells Fargo & Company increased their price target on Reliance from $343.00 to $376.00 and gave the company an “equal weight” rating in a report on Thursday. KeyCorp increased their price target on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $352.33.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the sale, the chief financial officer directly owned 16,840 shares in the company, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

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.