Reliance, Inc. $RS Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,295 shares of the industrial products company’s stock after selling 2,335 shares during the quarter. California State Teachers Retirement System owned about 0.31% of Reliance worth $47,805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Reliance during the 4th quarter worth $207,691,000. Boston Partners boosted its holdings in shares of Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after acquiring an additional 343,598 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Reliance by 1,019.0% during the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after acquiring an additional 311,323 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 worth $79,210,000 after acquiring an additional 268,139 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RS shares. Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. KeyCorp boosted their target price on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a research note on Thursday, April 30th. Seaport Research Partners raised their price target on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, BMO Capital Markets lifted their price target on Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $378.67.

Insiders Place Their Bets

In other news, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

Reliance Trading Down 0.7%

Shares of Reliance stock opened at $400.84 on Friday. The company has a 50-day moving average of $390.53 and a two-hundred day moving average of $350.65. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $419.83. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock has a market cap of $20.47 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, research analysts anticipate that Reliance, Inc. will post 20.37 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s payout ratio is presently 29.07%.

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.