Reliance, Inc. (NYSE:RS - Get Free Report) CFO Arthur Ajemyan sold 3,500 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares of the company's stock, valued at $6,030,740.80. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Reliance Stock Performance
NYSE RS opened at $361.71 on Wednesday. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $365.59. The company has a 50-day simple moving average of $315.32 and a 200 day simple moving average of $303.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The company has a market capitalization of $18.71 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88.
Reliance (NYSE:RS - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share 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 the consensus estimate of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The company's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $3.77 earnings per share. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, research analysts predict that Reliance, Inc. will post 17.99 EPS for the current year.
Reliance Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Reliance's dividend payout ratio (DPR) is presently 32.62%.
Hedge Funds Weigh In On Reliance
A number of large investors have recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in shares of Reliance by 0.9% in the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company's stock valued at $1,209,000 after acquiring an additional 34 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Reliance by 1.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company's stock valued at $588,000 after acquiring an additional 35 shares during the period. Masso Torrence Wealth Management Inc. boosted its position in shares of Reliance by 3.3% in the third quarter. Masso Torrence Wealth Management Inc. now owns 1,148 shares of the industrial products company's stock valued at $322,000 after acquiring an additional 37 shares during the period. Kathmere Capital Management LLC boosted its position in shares of Reliance by 4.9% in the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 37 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Reliance by 13.2% during the third quarter. Farther Finance Advisors LLC now owns 325 shares of the industrial products company's stock valued at $91,000 after purchasing an additional 38 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Reliance from $340.00 to $355.00 and gave the stock a "neutral" rating in a research note on Thursday, April 23rd. Wells Fargo & Company lifted their target price on shares of Reliance from $323.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Reliance from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. KeyCorp lifted their target price on shares of Reliance from $341.00 to $378.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Zacks Research upgraded shares of Reliance from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $343.00.
Check Out Our Latest Analysis on RS
Trending Headlines about Reliance
Here are the key news stories impacting Reliance this week:
About Reliance
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
