Mirabella Financial Services LLP Has $1.48 Million Position in Reliance, Inc. $RS

Mirabella Financial Services LLP grew its stake in shares of Reliance, Inc. (NYSE:RS) by 160.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,284 shares of the industrial products company’s stock after acquiring an additional 3,255 shares during the period. Mirabella Financial Services LLP’s holdings in Reliance were worth $1,481,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RS. Hudson Bay Capital Management LP acquired a new stake in Reliance during the third quarter valued at $5,095,000. Tudor Investment Corp ET AL grew its stake in Reliance by 9.9% in the third quarter. Tudor Investment Corp ET AL now owns 41,526 shares of the industrial products company’s stock valued at $11,662,000 after purchasing an additional 3,724 shares in the last quarter. JPMorgan Chase & Co. increased its position in Reliance by 49.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 342,796 shares of the industrial products company’s stock worth $96,268,000 after purchasing an additional 113,378 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Reliance in the 3rd quarter worth about $530,000. Finally, WBI Investments LLC purchased a new stake in shares of Reliance during the 3rd quarter worth about $515,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Stock Performance

Shares of NYSE RS opened at $294.61 on Friday. The business’s 50-day simple moving average is $323.13 and its 200-day simple moving average is $297.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.30 and a current ratio of 4.88. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $365.59. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.12 and a beta of 0.91.

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

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, March 6th. This is a boost from Reliance’s previous quarterly dividend of $1.20. Reliance’s dividend payout ratio (DPR) is 35.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets lowered Reliance from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $340.00 to $320.00 in a report on Friday, February 20th. Wall Street Zen downgraded Reliance from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. KeyCorp reaffirmed an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. Wells Fargo & Company lifted their target price on shares of Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Reliance from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $340.00 to $330.00 in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $324.33.

Insider Buying and Selling at Reliance

In other news, SVP William A. Smith II sold 6,615 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $298.61, for a total value of $1,975,305.15. Following the sale, the senior vice president directly owned 21,747 shares of the company’s stock, valued at approximately $6,493,871.67. This trade represents a 23.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief operating officer owned 14,021 shares in the company, valued at $4,509,434.02. The trade was a 63.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.35% 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.