TD Asset Management Inc Has $26.68 Million Position in Reliance, Inc. $RS

TD Asset Management Inc lowered its stake in shares of Reliance, Inc. (NYSE:RS) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,353 shares of the industrial products company’s stock after selling 17,587 shares during the quarter. TD Asset Management Inc owned about 0.18% of Reliance worth $26,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RS. Norges Bank bought a new stake in shares of Reliance during the 4th quarter worth $207,691,000. Alliancebernstein L.P. raised its holdings in Reliance by 899.4% in the 3rd quarter. Alliancebernstein L.P. now owns 733,528 shares of the industrial products company’s stock worth $205,997,000 after acquiring an additional 660,128 shares during the period. Boston Partners lifted its position in Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares during the last quarter. Wellington Management Group LLP lifted its position in Reliance by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after acquiring an additional 343,598 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted 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 valued at $79,210,000 after acquiring an additional 268,139 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In related news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $358.12, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. KeyCorp increased their target price on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. BMO Capital Markets upped their price target on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Finally, The Goldman Sachs Group started coverage on Reliance in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $352.33.

Reliance Stock Down 0.1%

Shares of RS opened at $394.16 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The company has a 50-day simple moving average of $348.86 and a 200-day simple moving average of $321.79. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $401.41. The firm has a market capitalization of $20.12 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.22 and a beta of 0.95.

Reliance (NYSE:RS) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the business earned $3.77 earnings per share. The firm’s revenue for the quarter 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, equities research analysts expect that Reliance, Inc. will post 18.98 earnings per share for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Reliance’s dividend payout ratio (DPR) is presently 32.62%.

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.