Peterson Wealth Services Acquires 3,103 Shares of Reliance, Inc. $RS

Peterson Wealth Services grew its holdings in Reliance, Inc. (NYSE:RS) by 2,983.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,207 shares of the industrial products company’s stock after acquiring an additional 3,103 shares during the quarter. Peterson Wealth Services’ holdings in Reliance were worth $926,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Elevation Wealth Partners LLC bought a new stake in shares of Reliance in the fourth quarter worth about $28,000. Quarry LP bought a new stake in shares of Reliance in the third quarter worth about $32,000. Elyxium Wealth LLC bought a new stake in shares of Reliance in the fourth quarter worth about $36,000. Advisory Services Network LLC bought a new stake in shares of Reliance in the third quarter worth about $39,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Reliance in the fourth quarter worth about $40,000. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the transaction, the chief financial officer directly owned 16,840 shares of the company’s stock, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.

Reliance Stock Up 4.1%

RS stock opened at $410.31 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The stock has a market capitalization of $20.95 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.22 and a beta of 0.95. The business has a 50-day moving average of $356.88 and a 200-day moving average of $325.52. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $411.00.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 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 during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the firm posted $3.77 earnings per share. The business’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, sell-side 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. Investors of record on Friday, May 22nd were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance’s dividend payout ratio is 32.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RS. JPMorgan Chase & Co. upped their price objective on Reliance from $345.00 to $378.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. KeyCorp upped their price objective on Reliance from $341.00 to $378.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, BMO Capital Markets upped their price objective on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $357.83.

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.