Saudi Central Bank Has $1.34 Million Stock Holdings in Reliance, Inc. $RS

Saudi Central Bank boosted its stake in shares of Reliance, Inc. (NYSE:RS) by 85.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,578 shares of the industrial products company’s stock after buying an additional 1,648 shares during the period. Saudi Central Bank’s holdings in Reliance were worth $1,337,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. XXEC Inc. bought a new stake in Reliance during the 2nd quarter worth about $127,493,000. BlackRock Inc. acquired a new stake in shares of Reliance in the second quarter valued at about $2,171,081,000. Norges Bank bought a new stake in Reliance during the fourth quarter worth about $207,691,000. Boston Partners boosted its position in Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Reliance during the 2nd quarter worth approximately $176,913,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Wells Fargo & Company lowered their price target on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday, August 24th. Zacks Research raised Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Citigroup reissued a “neutral” rating on shares of Reliance in a report on Wednesday, July 29th. Finally, Wall Street Zen downgraded Reliance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and an average target price of $377.50.

Reliance Stock Performance

Reliance stock opened at $398.56 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The stock has a market cap of $20.35 billion, a PE 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 business’s 50-day moving average price is $397.95 and its two-hundred day moving average price is $364.69.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. 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 prior year, the business earned $4.43 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts expect that Reliance, Inc. will post 22.23 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Reliance’s dividend payout ratio is currently 29.07%.

Insider Activity at Reliance

In related 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 transaction of $974,636.13. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the chief financial officer owned 14,640 shares in the company, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by company insiders.

Reliance Company 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.