Mitsubishi UFJ Asset Management Co. Ltd. Buys New Stake in Reliance, Inc. $RS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,001 shares of the industrial products company’s stock, valued at approximately $22,790,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Reliance at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after acquiring an additional 940 shares during the period. Empowered Funds LLC grew its holdings in Reliance by 4.8% in the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. increased its position in Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares during the last quarter. Walleye Capital LLC increased its position in Reliance by 2,192.5% during the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Reliance during the second quarter worth approximately $1,318,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was 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 in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on RS. Seaport Research Partners lifted their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. Wells Fargo & Company raised their price target on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Wall Street Zen cut shares of Reliance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and a consensus price target of $378.67.

Reliance Price Performance

Shares of RS opened at $381.95 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. Reliance, Inc. has a fifty-two week low of $260.31 and a fifty-two week high of $433.02. The business’s 50-day moving average is $399.32 and its 200-day moving average is $360.46. The company has a market capitalization of $19.50 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.03 and a beta of 0.96.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping 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 firm 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 company posted $4.43 earnings per share. The firm’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $1.25 dividend. 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%.

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.