Key Points
- Reliance SVP William Smith II sold 2,353 shares at an average price of $414.21, generating approximately $974,636 and reducing his direct stake by 10.82% to 19,394 shares.
- Reliance beat quarterly estimates with EPS of $6.27 versus $5.47 expected and revenue of $4.63 billion, up 26.5% year over year. The company guided for third-quarter EPS of $6.40–$6.60.
- Reliance declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $378.67.
Reliance, Inc. (NYSE:RS - Get Free Report) SVP William Smith II sold 2,353 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 19,394 shares of the company's stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Reliance Price Performance
NYSE:RS opened at $403.09 on Thursday. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $419.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The firm's 50-day simple moving average is $389.80 and its 200 day simple moving average is $350.01. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 1.19 and a beta of 0.97.
Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.47 by $0.80. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts predict that Reliance, Inc. will post 19.84 earnings per share for the current year.
Reliance Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance's dividend payout ratio is presently 29.07%.
Analyst Upgrades and Downgrades
RS has been the subject of a number of analyst reports. Wall Street Zen raised Reliance from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. KeyCorp upped their target price on Reliance from $378.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 24th. Citigroup restated a "neutral" rating on shares of Reliance in a research report on Wednesday. Bank of America lowered Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective on the stock. in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group began coverage on Reliance in a research report on Wednesday, April 1st. They issued a "neutral" rating and a $300.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $378.67.
Get Our Latest Stock Report on RS
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Costello Asset Management INC bought a new stake in Reliance during the 1st quarter worth $30,000. Brown Brothers Harriman & Co. increased its holdings in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new position in Reliance in the fourth quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Reliance during the third quarter valued at about $32,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 55 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.
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.
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