Reliance, Inc. $RS Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its holdings in Reliance, Inc. (NYSE:RS) by 89.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 950 shares of the industrial products company’s stock after selling 7,911 shares during the quarter. Westpac Banking Corp’s holdings in Reliance were worth $267,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RS. Foundations Investment Advisors LLC purchased a new position in shares of Reliance during the third quarter worth about $1,576,000. Principal Financial Group Inc. raised its position in Reliance by 4.2% in the third quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock worth $212,243,000 after acquiring an additional 30,765 shares in the last quarter. First National Advisers LLC acquired a new stake in shares of Reliance during the 3rd quarter valued at approximately $1,948,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Reliance in the third quarter valued at $873,000. Finally, Y Intercept Hong Kong Ltd raised its position in Reliance by 293.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 34,946 shares of the industrial products company’s stock worth $9,814,000 after acquiring an additional 26,055 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, COO Stephen Paul Koch sold 24,060 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the completion of the sale, the chief operating officer directly owned 14,021 shares in the company, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Karla R. Lewis sold 5,809 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $283.50, for a total value of $1,646,851.50. Following the sale, the chief executive officer owned 84,421 shares of the company’s stock, valued at approximately $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,935 shares of company stock valued at $10,254,424 in the last quarter. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research upgraded shares of Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. downgraded shares of Reliance from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $340.00 to $330.00 in a research note on Friday, February 20th. KeyCorp reiterated an “overweight” rating on shares of Reliance in a report on Wednesday, January 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Reliance from $287.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $321.67.

Reliance Price Performance

Shares of NYSE:RS opened at $315.97 on Friday. The firm’s 50 day moving average is $319.76 and its two-hundred day moving average is $295.92. The company has a current ratio of 4.88, a quick ratio of 2.30 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $16.52 billion, a P/E ratio of 22.62, a PEG ratio of 1.89 and a beta of 0.92. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $365.59.

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

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This is a boost from Reliance’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. Reliance’s payout ratio is currently 35.79%.

About Reliance

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.