Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 61,001 Reliance, Inc. $RS

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Reliance, Inc. (NYSE:RS) in the second quarter, Holdings Channel reports. The institutional investor purchased 61,001 shares of the industrial products company’s stock, valued at approximately $22,790,000.

Several other hedge funds have also recently made changes to their positions in the business. Costello Asset Management INC bought a new position in Reliance in the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. raised its holdings in shares of Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares during the period. Greenline Wealth Management LLC purchased a new stake in Reliance during the fourth quarter valued at about $32,000. Quarry LP bought a new position in shares of Reliance in the third quarter worth $32,000. Finally, Parkside Financial Bank & Trust increased its holdings in Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 55 shares during the period. 79.26% of the stock is owned by institutional investors.

Reliance Trading Down 4.3%

Shares of NYSE:RS opened at $381.95 on Friday. The company has a market cap of $19.50 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.03 and a beta of 0.96. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02. The stock has a 50 day moving average of $399.32 and a 200 day moving average of $360.46. 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 (NYSE:RS) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the company posted $4.43 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts expect that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio is currently 29.07%.

Insider Transactions at Reliance

In related news, SVP William A. Smith II sold 2,353 shares of the firm’s 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 directly owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Reliance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research report on Thursday, April 30th. KeyCorp raised their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Finally, Seaport Research Partners boosted their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $378.67.

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.