North Dakota State Investment Board Purchases New Holdings in Reliance, Inc. $RS

North Dakota State Investment Board purchased a new stake in Reliance, Inc. (NYSE:RS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,858 shares of the industrial products company’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RS. Elevation Wealth Partners LLC acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $28,000. Quarry LP acquired a new stake in shares of Reliance in the third quarter valued at approximately $32,000. Guerra Advisors Inc acquired a new stake in shares of Reliance in the third quarter valued at approximately $34,000. Elyxium Wealth LLC acquired a new stake in shares of Reliance in the fourth quarter valued at approximately $36,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Reliance in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Seaport Research Partners upped their target price on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. KeyCorp upped their target price on shares of Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Reliance from $340.00 to $345.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $344.67.

Reliance Price Performance

Shares of RS stock opened at $363.98 on Friday. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $381.00. The firm has a market capitalization of $18.58 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.12 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. The firm has a fifty day moving average of $330.24 and a 200-day moving average of $313.37.

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 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 company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the business earned $3.77 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, equities research analysts forecast that Reliance, Inc. will post 18.98 earnings per share for the current year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Reliance’s payout ratio is 32.62%.

Insider Activity

In other news, SVP William A. Smith II sold 6,615 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total value of $1,975,305.15. Following the completion of the transaction, the senior vice president owned 21,747 shares of the company’s stock, valued at $6,493,871.67. The trade was a 23.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of the business’s stock in a transaction 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 transaction, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at $4,509,434.02. This trade represents a 63.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,175 shares of company stock valued at $10,966,902 in the last quarter. Company insiders own 0.40% of the company’s stock.

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.