Illinois Municipal Retirement Fund Boosts Holdings in Reliance, Inc. $RS

Illinois Municipal Retirement Fund boosted its holdings in shares of Reliance, Inc. (NYSE:RS) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,369 shares of the industrial products company’s stock after acquiring an additional 10,246 shares during the period. Illinois Municipal Retirement Fund’s holdings in Reliance were worth $16,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. CWA Asset Management Group LLC acquired a new position in shares of Reliance during the 4th quarter worth approximately $10,297,000. Assenagon Asset Management S.A. lifted its stake in Reliance by 24.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,284 shares of the industrial products company’s stock valued at $7,015,000 after buying an additional 4,817 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Reliance by 49.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 342,796 shares of the industrial products company’s stock valued at $96,268,000 after buying an additional 113,378 shares during the last quarter. ProCore Advisors LLC acquired a new stake in Reliance during the 4th quarter valued at $18,787,000. Finally, Arjuna Capital purchased a new position in Reliance during the fourth quarter worth $1,838,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Activity

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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

Reliance Stock Up 0.8%

Shares of Reliance stock opened at $391.64 on Thursday. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $419.83. The company has a market capitalization of $19.99 billion, a PE ratio of 25.55, a P/E/G ratio of 1.20 and a beta of 0.97. 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 business has a 50-day moving average of $383.33 and a 200-day moving average of $342.91.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.63 by $0.53. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities analysts forecast that Reliance, Inc. will post 19.24 EPS for the current fiscal year.

Reliance Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on RS. KeyCorp boosted their price target on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wells Fargo & Company dropped their price objective on Reliance from $376.00 to $372.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Seaport Research Partners lifted their price objective on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. cut their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $363.50.

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.