ProCore Advisors LLC Purchases Shares of 65,036 Reliance, Inc. $RS

ProCore Advisors LLC acquired a new stake in shares of Reliance, Inc. (NYSE:RS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 65,036 shares of the industrial products company’s stock, valued at approximately $18,787,000. Reliance comprises about 19.3% of ProCore Advisors LLC’s portfolio, making the stock its largest holding. ProCore Advisors LLC owned about 0.12% of Reliance at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RS. Alliancebernstein L.P. raised its holdings in shares of Reliance by 899.4% during the third 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 in the last quarter. Boston Partners raised its holdings in shares of Reliance by 27.5% during the third 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 in the last quarter. Wellington Management Group LLP increased its position in Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after buying an additional 343,598 shares during the last quarter. State Street Corp increased its position in Reliance by 6.8% during the third quarter. State Street Corp now owns 2,597,755 shares of the industrial products company’s stock worth $729,528,000 after buying an additional 166,214 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Reliance by 273.9% during the second quarter. Balyasny Asset Management L.P. now owns 155,914 shares of the industrial products company’s stock worth $48,941,000 after buying an additional 114,215 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

RS has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. KeyCorp initiated coverage on Reliance in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $341.00 price target on the stock. The Goldman Sachs Group initiated coverage on Reliance in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target on the stock. BMO Capital Markets downgraded Reliance from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $340.00 to $320.00 in a research report on Friday, February 20th. Finally, Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $322.80.

Reliance Stock Up 0.2%

RS stock opened at $306.62 on Wednesday. Reliance, Inc. has a twelve month low of $259.82 and a twelve month high of $365.59. The company has a market cap of $15.86 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.15 and a beta of 0.88. The business’s 50-day simple moving average is $317.86 and its 200 day simple moving average is $298.37. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20.

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

Reliance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. This is a boost from Reliance’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. Reliance’s dividend payout ratio (DPR) is 35.79%.

Insider Transactions at Reliance

In related news, SVP William A. Smith II sold 6,615 shares of Reliance stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the sale, the senior vice president directly owned 21,747 shares of the company’s stock, valued at $6,493,871.67. This trade represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the chief operating officer directly owned 14,021 shares in the company, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.35% of the stock is owned by company insiders.

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.