First National Bank of Omaha Purchases New Shares in Reliance, Inc. $RS

First National Bank of Omaha acquired a new position in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 19,766 shares of the industrial products company’s stock, valued at approximately $7,385,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RS. BlackRock Inc. acquired a new stake in shares of Reliance in the second quarter valued at approximately $2,171,081,000. Norges Bank acquired a new stake in Reliance during the fourth quarter worth approximately $207,691,000. Boston Partners increased its stake 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 period. Bank of New York Mellon Corp acquired a new position in Reliance in the 2nd quarter valued at $176,913,000. Finally, Wellington Management Group LLP raised its holdings in Reliance by 25.2% in the 3rd 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. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. KeyCorp upped their price objective on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. BMO Capital Markets increased their price objective on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Seaport Research Partners raised their target price on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $378.67.

Reliance Stock Down 1.6%

RS stock opened at $421.28 on Wednesday. The stock has a market capitalization of $21.51 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The firm has a 50-day moving average price of $399.83 and a 200-day moving average price of $359.62.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction on Tuesday, July 28th. The shares were 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 of the company’s stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% 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.