TD Asset Management Inc Has $30.87 Million Holdings in Reliance, Inc. $RS

TD Asset Management Inc trimmed its stake in shares of Reliance, Inc. (NYSE:RS) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,940 shares of the industrial products company’s stock after selling 14,115 shares during the period. TD Asset Management Inc’s holdings in Reliance were worth $30,874,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. KeyCorp reiterated an “overweight” rating on shares of Reliance in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research note on Monday, December 29th. BMO Capital Markets lowered Reliance from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $340.00 to $320.00 in a research report on Friday, February 20th. Finally, Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Reliance has a consensus rating of “Hold” and an average target price of $321.67.

Reliance Stock Performance

RS opened at $315.25 on Friday. The business’s 50-day moving average price is $320.25 and its two-hundred day moving average price is $296.14. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $365.59. The company has a market capitalization of $16.48 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 1.89 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.88 and a quick ratio of 2.30.

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

Reliance Increases Dividend

The firm 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 $1.25 dividend. This is a boost from Reliance’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 6th. Reliance’s payout ratio is presently 34.36%.

Insider Buying and Selling at Reliance

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

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.