Voya Investment Management LLC Trims Holdings in Reliance, Inc. $RS

Voya Investment Management LLC lowered its position in shares of Reliance, Inc. (NYSE:RS) by 20.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,091 shares of the industrial products company’s stock after selling 2,078 shares during the quarter. Voya Investment Management LLC’s holdings in Reliance were worth $2,272,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AlphaQuest LLC bought a new stake in shares of Reliance during the 1st quarter valued at $80,000. Northwestern Mutual Wealth Management Co. raised its holdings in Reliance by 50.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,853 shares of the industrial products company’s stock valued at $824,000 after acquiring an additional 961 shares during the period. Jump Financial LLC purchased a new position in shares of Reliance in the first quarter valued at about $200,000. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Reliance by 1.1% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 17,822 shares of the industrial products company’s stock valued at $5,146,000 after acquiring an additional 196 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Reliance during the first quarter worth about $3,240,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on RS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research note on Monday, December 22nd. Wells Fargo & Company lifted their price objective on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. BMO Capital Markets dropped their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $317.25.

Reliance Stock Up 0.3%

NYSE RS opened at $296.35 on Monday. The stock has a 50 day moving average price of $280.87 and a 200-day moving average price of $292.33. Reliance, Inc. has a one year low of $250.07 and a one year high of $347.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. The company has a market capitalization of $15.50 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.90 and a beta of 0.92.

Reliance (NYSE:RS) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). Reliance had a net margin of 5.23% and a return on equity of 10.37%. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company earned $3.64 EPS. Reliance’s revenue for the quarter was up 6.8% compared to the same quarter last year. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, equities analysts predict that Reliance, Inc. will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were given a $1.20 dividend. The ex-dividend date was Friday, November 21st. This represents a $4.80 annualized dividend and a yield of 1.6%. Reliance’s dividend payout ratio (DPR) is currently 35.09%.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 5,809 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.50, for a total transaction of $1,646,851.50. Following the sale, the chief executive officer directly owned 84,421 shares in the company, valued at $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Stephen Paul Koch sold 3,066 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $283.56, for a total value of $869,394.96. Following the completion of the sale, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at $3,975,794.76. The trade was a 17.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.