XXEC Inc. Makes New $17.33 Million Investment in Reliance, Inc. $RS

XXEC Inc. purchased a new position in Reliance, Inc. (NYSE:RS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 45,566 shares of the industrial products company’s stock, valued at approximately $17,329,000. Reliance comprises about 0.0% of XXEC Inc.’s portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Reliance during the 2nd quarter worth about $2,171,081,000. State Street Corp raised its stake in Reliance by 4.5% in the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock valued at $784,503,000 after purchasing an additional 118,009 shares during the last quarter. Boston Partners lifted its holdings in Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares in the last quarter. Wellington Management Group LLP lifted 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 purchasing an additional 343,598 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Reliance by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock worth $270,349,000 after purchasing an additional 2,549 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RS shares. KeyCorp lifted their price target on shares of Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 23rd. Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Wells Fargo & Company lowered their target price on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $377.50.

Insider Activity at Reliance

In other Reliance news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the transaction, the senior vice president owned 19,394 shares of the company’s stock, valued at $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 is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of Reliance 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 owned 14,640 shares in the company, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Reliance Stock Up 0.1%

Shares of NYSE:RS opened at $391.61 on Friday. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The firm has a market cap of $20.00 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.01 and a beta of 0.96. The stock’s 50-day moving average price is $397.42 and its two-hundred day moving average price is $362.06. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion during 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 company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, research analysts forecast that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Announces Dividend

The business also recently declared 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 of this dividend is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s dividend payout ratio is 29.07%.

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.