48,167,353 Shares in Reliance, Inc. $RS Bought by XXEC Inc.

XXEC Inc. bought a new position in shares of Reliance, Inc. (NYSE:RS) during the second quarter, HoldingsChannel.com reports. The firm bought 48,167,353 shares of the industrial products company’s stock, valued at approximately $127,493,000. Reliance accounts for approximately 0.1% of XXEC Inc.’s holdings, making the stock its 21st biggest holding. XXEC Inc. owned about 0.94% of Reliance at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Reliance in the second quarter valued at $2,171,081,000. State Street Corp boosted its position in shares of Reliance by 4.5% in the 4th quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after buying an additional 118,009 shares in the last quarter. Boston Partners boosted its position in shares of Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after buying an additional 484,286 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Reliance by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after buying an additional 343,598 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Reliance by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock valued at $270,349,000 after acquiring an additional 2,549 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Activity

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated 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 sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction dated 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 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. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RS shares. BMO Capital Markets raised their target price on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Zacks Research raised shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Seaport Research Partners increased their price target on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wall Street Zen raised shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, Reliance has an average rating of “Hold” and a consensus price target of $378.67.

Reliance Stock Performance

NYSE:RS opened at $387.58 on Friday. 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 firm has a market cap of $19.79 billion, a PE ratio of 22.53, a P/E/G ratio of 1.00 and a beta of 0.96. The firm has a 50 day simple moving average of $398.80 and a 200-day simple moving average of $360.65. Reliance, Inc. has a 1-year low of $260.31 and a 1-year high of $433.02.

Reliance (NYSE:RS) last issued its quarterly 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 return on equity of 12.51% and a net margin of 5.65%.The company 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 firm posted $4.43 EPS. Reliance’s revenue was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, equities analysts expect that Reliance, Inc. will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Reliance’s dividend 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.