Mitsubishi UFJ Asset Management Co. Ltd. Acquires 5,013 Shares of Reliance, Inc. $RS

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Reliance, Inc. (NYSE:RS) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 52,192 shares of the industrial products company’s stock after purchasing an additional 5,013 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Reliance were worth $15,439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC acquired a new stake in shares of Reliance in the third quarter worth about $1,576,000. CWA Asset Management Group LLC acquired a new position in shares of Reliance during the 4th quarter valued at about $10,297,000. Principal Financial Group Inc. increased its holdings in shares of Reliance by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock valued at $212,243,000 after acquiring an additional 30,765 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in shares of Reliance in the 3rd quarter valued at approximately $873,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Reliance by 24.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,284 shares of the industrial products company’s stock worth $7,015,000 after purchasing an additional 4,817 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Up 0.0%

Shares of RS stock opened at $369.46 on Monday. Reliance, Inc. has a one year low of $260.31 and a one year high of $381.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The stock has a fifty day moving average price of $319.73 and a 200 day moving average price of $307.35. The stock has a market cap of $18.86 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.53. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts predict that Reliance, Inc. will post 18.98 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued 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 dividend yield of 1.4%. Reliance’s dividend payout ratio is presently 32.62%.

Insider Buying and Selling

In other Reliance news, COO Stephen Paul Koch sold 24,060 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the sale, the chief operating officer directly owned 14,021 shares in the company, valued at $4,509,434.02. This represents a 63.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William A. Smith II sold 6,615 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $298.61, for a total value of $1,975,305.15. Following the transaction, the senior vice president owned 21,747 shares of the company’s stock, valued at $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,175 shares of company stock worth $10,966,902 in the last 90 days. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wall Street Zen upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Bank of America downgraded shares of 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. Seaport Research Partners raised 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, BMO Capital Markets lifted their target price on shares of Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $344.67.

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.