Reliance, Inc. $RS Shares Bought by Saudi Central Bank

Saudi Central Bank raised its holdings in Reliance, Inc. (NYSE:RS) by 85.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,578 shares of the industrial products company’s stock after purchasing an additional 1,648 shares during the period. Saudi Central Bank’s holdings in Reliance were worth $1,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new stake in shares of Reliance during the second quarter worth $46,000. AlphaGrep UK Ltd acquired a new stake in Reliance during the 2nd quarter worth approximately $488,000. denkapparat Operations GmbH acquired a new position in shares of Reliance during the 2nd quarter valued at $400,000. Concurrent Investment Advisors LLC boosted its position in shares of Reliance by 13.5% in the second quarter. Concurrent Investment Advisors LLC now owns 767 shares of the industrial products company’s stock worth $286,000 after buying an additional 91 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Reliance during the second quarter valued at approximately $6,522,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Activity at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William 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 value of $974,636.13. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. JPMorgan Chase & Co. dropped their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Citigroup reissued a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Wall Street Zen downgraded Reliance from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 31st. Finally, Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One equities 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $377.50.

Reliance Trading Down 0.5%

Shares of RS opened at $398.56 on Wednesday. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.03 and a beta of 0.96. 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 price is $397.95 and its 200 day moving average price is $364.69. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last released its quarterly earnings data 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. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the business earned $4.43 earnings per share. The company’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. As a group, research analysts predict that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

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.