Reliance, Inc. $RS Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Reliance, Inc. by 10.6% in the fourth quarter, buying 5,013 additional shares and bringing its total holdings to 52,192 shares worth about $15.4 million.
• Recent analyst sentiment on RS is mixed, with one Buy, six Hold, and one Sell rating. The stock’s consensus target price is $344.67, while several firms have recently adjusted ratings and price targets.
• Reliance reported strong quarterly results, with EPS of $5.16 beating estimates and revenue of $4.03 billion topping expectations. The company also announced a quarterly dividend of $1.25 per share, or $5.00 annually, for a 1.4% yield.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Reliance, Inc. (NYSE:RS - Free Report) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,192 shares of the industrial products company's stock after buying an additional 5,013 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Reliance worth $15,439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RS. Royal Bank of Canada raised its position 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 buying an additional 940 shares in the last quarter. Empowered Funds LLC raised its holdings in Reliance by 4.8% during the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock worth $1,635,000 after purchasing an additional 258 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings 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 in the last quarter. Walleye Capital LLC raised its holdings 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 in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Reliance in the second quarter worth approximately $1,318,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on RS. Wells Fargo & Company lifted their price target on Reliance from $323.00 to $330.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. Bank of America lowered Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective for the company. in a report on Thursday, April 30th. BMO Capital Markets raised their target price on Reliance from $320.00 to $350.00 and gave the company a "market perform" rating in a research note on Monday, April 27th. Wall Street Zen raised Reliance from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Zacks Research raised shares of Reliance from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $344.67.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the business's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares in the company, valued at approximately $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the sale, the chief operating officer directly owned 14,021 shares of the company's stock, valued at $4,509,434.02. This represents a 63.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 34,175 shares of company stock valued at $10,966,902. 0.40% of the stock is owned by corporate insiders.

Reliance Price Performance

NYSE RS opened at $369.46 on Monday. The stock has a market capitalization of $18.86 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.14 and a beta of 0.95. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $381.00. The business's fifty day moving average is $319.73 and its two-hundred day moving average is $307.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.53. The business had revenue of $4.03 billion for the quarter, compared to analysts' expectations of $3.89 billion. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, research analysts forecast that Reliance, Inc. will post 18.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. Reliance's dividend payout ratio (DPR) is currently 32.62%.

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.

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