Reliance, Inc. (NYSE:RS - Get Free Report) 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 completion of the transaction, the chief financial officer directly owned 14,640 shares of the company's stock, valued at approximately $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Reliance Stock Performance
Shares of Reliance stock opened at $415.72 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.96. The stock's 50-day moving average is $392.97 and its 200-day moving average is $352.73. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83.
Reliance (NYSE:RS - Get Free Report) last announced its earnings results 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. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter last year, the firm earned $4.43 EPS. Reliance'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. Equities analysts predict that Reliance, Inc. will post 21.33 earnings per share for the current fiscal year.
Reliance Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance's dividend payout ratio is presently 29.07%.
Institutional Investors Weigh In On Reliance
Several hedge funds have recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in Reliance during the first quarter worth approximately $30,000. Brown Brothers Harriman & Co. lifted its position in shares of Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after buying an additional 50 shares during the last quarter. Greenline Wealth Management LLC bought a new position in shares of Reliance during the 4th quarter worth approximately $32,000. Quarry LP acquired a new position in shares of Reliance during the 3rd quarter worth approximately $32,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Reliance by 87.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock worth $34,000 after acquiring an additional 55 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently commented on RS shares. Wall Street Zen upgraded shares of Reliance from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Bank of America lowered Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 target price on the stock. in a report on Thursday, April 30th. Weiss Ratings upgraded Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Wells Fargo & Company boosted their price target on Reliance from $372.00 to $398.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets upped their price objective on Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Reliance presently has an average rating of "Hold" and an average target price of $378.67.
View Our Latest Report on RS
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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