Meiji Yasuda Asset Management Co Ltd. Makes New $829,000 Investment in Reliance, Inc. $RS

Meiji Yasuda Asset Management Co Ltd. acquired a new position in Reliance, Inc. (NYSE:RS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,220 shares of the industrial products company’s stock, valued at approximately $829,000.

A number of other institutional investors also recently made changes to their positions in RS. Arjuna Capital bought a new position in shares of Reliance during the fourth quarter valued at about $1,838,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of Reliance during the fourth quarter valued at about $61,317,000. Forsta AP Fonden purchased a new stake in Reliance in the 4th quarter worth approximately $2,022,000. Fulcrum Wealth Advisors LLC purchased a new stake in Reliance in the fourth quarter worth $2,529,000. Finally, Bank of America Corp DE increased its position in shares of Reliance by 4.9% during the first quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock valued at $79,989,000 after buying an additional 12,282 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Activity at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of the 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 directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the transaction, 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 position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on RS. Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a report on Thursday, April 30th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Seaport Research Partners boosted their target price 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. Finally, Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and an average target price of $377.50.

Reliance Stock Up 0.5%

NYSE RS opened at $384.48 on Wednesday. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $433.02. The stock’s 50 day moving average is $397.77 and its 200 day moving average is $361.45. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock has a market cap of $19.63 billion, a PE ratio of 22.35, a P/E/G ratio of 0.98 and a beta of 0.96.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the company posted $4.43 earnings per share. Reliance’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. Research analysts predict that Reliance, Inc. will post 22.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.3%. Reliance’s payout ratio is presently 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.