Occidental Asset Management LLC Purchases New Shares in Reliance, Inc. $RS

Occidental Asset Management LLC acquired a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,786 shares of the industrial products company’s stock, valued at approximately $7,392,000. Reliance comprises approximately 0.7% of Occidental Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Reliance by 4.5% in the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock valued at $784,503,000 after buying an additional 118,009 shares during the last quarter. Boston Partners increased its position 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 acquiring an additional 484,286 shares in the last quarter. Wellington Management Group LLP increased its position 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. Geode Capital Management LLC raised its stake in shares of Reliance by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock worth $270,349,000 after acquiring an additional 2,549 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Reliance by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 735,212 shares of the industrial products company’s stock worth $212,390,000 after acquiring an additional 55,344 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RS shares. Seaport Research Partners increased their price target on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen downgraded Reliance from a “strong-buy” rating to a “buy” rating in a report on Saturday. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective on the stock. in a research report on Thursday, April 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $378.67.

Reliance Price Performance

RS opened at $427.86 on Tuesday. The company has a fifty day moving average price of $399.45 and a two-hundred day moving average price of $358.94. The firm has a market capitalization of $21.85 billion, a PE ratio of 24.88, a P/E/G ratio of 1.10 and a beta of 0.96. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30.

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. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the business posted $4.43 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Dividend Announcement

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 $1.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.

Insider Activity

In other news, 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 transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction dated 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 sale, 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 SEC filing for this sale provides additional information. Corporate 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.