ProCore Advisors LLC Makes New $18.79 Million Investment in Reliance, Inc. $RS

ProCore Advisors LLC purchased a new position in shares of Reliance, Inc. (NYSE:RS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 65,036 shares of the industrial products company’s stock, valued at approximately $18,787,000. Reliance accounts for 19.3% of ProCore Advisors LLC’s investment portfolio, making the stock its biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RS. State Street Corp raised its stake in shares of Reliance by 6.8% in the third quarter. State Street Corp now owns 2,597,755 shares of the industrial products company’s stock valued at $729,528,000 after acquiring an additional 166,214 shares during the last quarter. Boston Partners raised its stake 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 during the last quarter. Wellington Management Group LLP raised its stake 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 during the last quarter. Franklin Resources Inc. raised its stake in shares of Reliance by 4.8% in the third quarter. Franklin Resources Inc. now owns 1,142,551 shares of the industrial products company’s stock valued at $320,863,000 after acquiring an additional 51,894 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Reliance by 4.2% in the third 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. Institutional investors own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. KeyCorp assumed coverage on shares of Reliance in a research note on Wednesday, March 25th. They issued an “overweight” rating and a $341.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Reliance in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 target price for the company. JPMorgan Chase & Co. cut shares of Reliance from an “overweight” rating to a “neutral” rating and cut their target price for the company from $340.00 to $330.00 in a research note on Friday, February 20th. BMO Capital Markets cut shares of Reliance from an “outperform” rating to a “market perform” rating and cut their target price for the company from $340.00 to $320.00 in a research note on Friday, February 20th. Finally, 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. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $322.80.

Insider Buying and Selling at Reliance

In other Reliance news, COO Stephen Paul Koch sold 24,060 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the completion of the sale, the chief operating officer owned 14,021 shares in the company, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 6,615 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the sale, the senior vice president owned 21,747 shares of the company’s stock, valued at $6,493,871.67. The trade was a 23.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.35% of the company’s stock.

Reliance Stock Performance

Shares of Reliance stock opened at $306.62 on Wednesday. The firm has a fifty day moving average of $317.86 and a two-hundred day moving average of $298.37. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.15 and a beta of 0.88. Reliance, Inc. has a 52 week low of $259.82 and a 52 week high of $365.59. 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 (NYSE:RS) last issued its earnings results on Wednesday, February 18th. The industrial products company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.40). The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.45 billion. Reliance had a net margin of 5.17% and a return on equity of 10.45%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.22 EPS. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. As a group, equities research analysts predict that Reliance, Inc. will post 16.98 EPS for the current year.

Reliance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, March 6th. This is a positive change from Reliance’s previous quarterly dividend of $1.20. Reliance’s dividend payout ratio is presently 35.79%.

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.