Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Reliance, Inc. $RS

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Reliance, Inc. (NYSE:RS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,220 shares of the industrial products company’s stock, valued at approximately $829,000.

A number of other large investors have also recently made changes to their positions in RS. Bank of Nova Scotia bought a new position in shares of Reliance in the second quarter worth about $15,921,000. Elevation Point Wealth Partners LLC bought a new stake in Reliance during the 2nd quarter valued at about $718,000. Commerce Bank bought a new stake in Reliance during the 2nd quarter valued at about $1,180,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Reliance in the 2nd quarter valued at about $2,065,000. Finally, Evolve Private Wealth LLC purchased a new stake in Reliance in the 2nd quarter valued at about $2,439,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. BMO Capital Markets increased their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective on the stock. in a report on Thursday, April 30th. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, KeyCorp upped their target price on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $377.50.

Reliance Trading Up 0.5%

NYSE:RS opened at $384.48 on Wednesday. Reliance, Inc. has a one year low of $260.31 and a one year 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. The firm has a market cap of $19.63 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.98 and a beta of 0.96. The firm has a 50-day simple moving average of $397.77 and a 200-day simple moving average of $361.45.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts anticipate that Reliance, Inc. will post 22.23 EPS for the current fiscal 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 issued 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 yield of 1.3%. Reliance’s dividend payout ratio is currently 29.07%.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William A. Smith II sold 2,353 shares of the company’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 sale, 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 SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by company insiders.

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.