First National Bank of Omaha Makes New Investment in Reliance, Inc. $RS

First National Bank of Omaha purchased a new stake in Reliance, Inc. (NYSE:RS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 19,766 shares of the industrial products company’s stock, valued at approximately $7,385,000.

A number of other hedge funds also recently modified their holdings of RS. Costello Asset Management INC bought a new stake in shares of Reliance in the first quarter worth $30,000. Brown Brothers Harriman & Co. raised its position in Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Greenline Wealth Management LLC bought a new position in Reliance during the 4th quarter worth $32,000. Quarry LP acquired a new position in Reliance during the 3rd quarter worth about $32,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Down 1.6%

Shares of Reliance stock opened at $421.28 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 current ratio of 4.30 and a quick ratio of 2.27. The stock’s 50-day moving average is $399.83 and its 200 day moving average is $359.62. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.10 and a beta of 0.96.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share 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 business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the company posted $4.43 earnings per share. The firm’s revenue for the quarter 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 anticipate that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is 29.07%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RS. JPMorgan Chase & Co. decreased their price target on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. KeyCorp lifted their price objective on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Citigroup reissued a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Finally, Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $378.67.

Insider Buying and Selling at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the transaction, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company’s stock.

Reliance 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.