The Manufacturers Life Insurance Company Decreases Stock Holdings in Reliance, Inc. $RS

The Manufacturers Life Insurance Company lowered its position in shares of Reliance, Inc. (NYSE:RS) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,004 shares of the industrial products company’s stock after selling 1,909 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Reliance worth $8,207,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Reliance during the 4th quarter worth about $207,691,000. Boston Partners boosted its holdings in Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after purchasing an additional 343,598 shares in the last quarter. Corient Private Wealth LLC increased its stake in Reliance by 1,019.0% in the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock valued at $98,758,000 after purchasing an additional 311,323 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Reliance by 4,419.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock worth $79,210,000 after purchasing an additional 268,139 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Seaport Research Partners lifted their price target on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Bank of America downgraded shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a research note on Thursday, April 30th. Finally, BMO Capital Markets raised their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Reliance has a consensus rating of “Hold” and a consensus target price of $378.67.

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This represents a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by company insiders.

Reliance Trading Up 1.5%

NYSE RS opened at $415.72 on Wednesday. The stock has a market capitalization of $21.23 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.10 and a beta of 0.96. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $419.83. The firm has a 50-day moving average price of $392.97 and a 200 day moving average price of $352.73. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance, Inc. will post 21.33 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Reliance’s dividend payout ratio (DPR) is 29.07%.

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.