UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in Reliance, Inc. $RS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Reliance, Inc. (NYSE:RS) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 394,427 shares of the industrial products company’s stock after selling 10,126 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.77% of Reliance worth $147,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Nissay Asset Management Corp Japan lifted its holdings in shares of Reliance by 0.8% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 6,913 shares of the industrial products company’s stock worth $2,583,000 after acquiring an additional 54 shares during the last quarter. Hsbc Holdings PLC increased its stake in Reliance by 7.7% in the second quarter. Hsbc Holdings PLC now owns 226,697 shares of the industrial products company’s stock valued at $84,764,000 after acquiring an additional 16,179 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Reliance in the second quarter valued at $1,157,000. Beacon Pointe Advisors LLC purchased a new stake in Reliance during the second quarter valued at about $521,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Reliance during the second quarter valued at about $187,000. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 1.6%

Shares of NYSE:RS opened at $390.26 on Wednesday. The stock’s 50-day moving average price is $396.69 and its 200-day moving average price is $362.73. Reliance, Inc. has a 12-month low of $260.31 and a 12-month high of $433.02. The stock has a market capitalization of $19.93 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.96. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last released its 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. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.Reliance’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts anticipate that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $1.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s payout ratio is presently 29.07%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RS shares. BMO Capital Markets upped their price objective on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Wells Fargo & Company dropped their target price on Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research report on Monday, August 24th. Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Finally, Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $377.50.

Insider Activity at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction that occurred on 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 owned 14,640 shares in the company, valued at $6,004,010.40. This represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.