Mitsubishi UFJ Trust & Banking Corp Has $37.43 Million Position in Reliance, Inc. $RS

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Reliance, Inc. (NYSE:RS) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,234 shares of the industrial products company’s stock after selling 1,039 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.23% of Reliance worth $37,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Boston Partners grew its holdings in Reliance by 72.4% during the second quarter. Boston Partners now owns 1,761,754 shares of the industrial products company’s stock worth $551,971,000 after purchasing an additional 739,854 shares during the period. Nuveen LLC acquired a new stake in shares of Reliance in the first quarter valued at approximately $144,089,000. William Blair Investment Management LLC bought a new position in shares of Reliance during the 2nd quarter worth approximately $72,373,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Reliance during the 1st quarter worth approximately $55,004,000. Finally, American Century Companies Inc. increased its holdings in shares of Reliance by 37.9% during the 1st quarter. American Century Companies Inc. now owns 588,878 shares of the industrial products company’s stock worth $170,039,000 after acquiring an additional 161,892 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RS has been the subject of several research reports. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Reliance in a research report on Wednesday, October 8th. BMO Capital Markets reduced their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of Reliance from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Monday, October 13th. Finally, Wells Fargo & Company cut their price objective on shares of Reliance from $296.00 to $284.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and a consensus price target of $322.40.

Reliance Trading Down 1.0%

RS stock opened at $273.40 on Friday. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43. The company has a market capitalization of $14.30 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. The company’s 50-day simple moving average is $281.25 and its 200 day simple moving average is $295.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). Reliance had a net margin of 5.23% and a return on equity of 10.37%. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm earned $3.64 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, sell-side analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Reliance’s dividend payout ratio is currently 35.09%.

Reliance Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.