Reliance, Inc. (NYSE:RS - Get Free Report) COO Stephen Koch sold 8,334 shares of the company's stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $430.87, for a total value of $3,590,870.58. Following the completion of the transaction, the chief operating officer directly owned 8,209 shares in the company, valued at approximately $3,537,011.83. The trade was a 50.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Reliance Stock Performance
Reliance stock opened at $437.72 on Thursday. The stock has a market cap of $22.35 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.95. The company has a current ratio of 4.12, a quick ratio of 2.22 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $398.40 and a 200-day moving average of $366.92. Reliance, Inc. has a 52 week low of $263.12 and a 52 week high of $438.99.
Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates of $6.83 by $1.19. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $4.74 billion. Reliance had a net margin of 6.38% and a return on equity of 15.31%. The business's quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.64 earnings per share. On average, analysts expect that Reliance, Inc. will post 24.63 EPS for the current fiscal year.
Reliance Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 20th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 20th. Reliance's dividend payout ratio is 23.31%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on RS. BMO Capital Markets boosted their target price on shares of Reliance from $390.00 to $415.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. KeyCorp upped their target price on shares of Reliance from $421.00 to $437.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company increased their price target on shares of Reliance from $391.00 to $420.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 22nd. Barclays lifted their price target on Reliance from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Zacks Research upgraded Reliance from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $400.29.
View Our Latest Stock Report on RS
Institutional Investors Weigh In On Reliance
A number of institutional investors have recently made changes to their positions in RS. MGO One Seven LLC lifted its stake in Reliance by 34.5% during the third quarter. MGO One Seven LLC now owns 4,765 shares of the industrial products company's stock worth $1,833,000 after purchasing an additional 1,221 shares during the last quarter. Choreo LLC increased its stake in Reliance by 6.1% during the third quarter. Choreo LLC now owns 1,502 shares of the industrial products company's stock valued at $578,000 after purchasing an additional 86 shares during the last quarter. Childress Capital Advisors LLC increased its stake in Reliance by 4.9% during the third quarter. Childress Capital Advisors LLC now owns 600 shares of the industrial products company's stock valued at $231,000 after purchasing an additional 28 shares during the last quarter. Generali Asset Management SPA SGR raised its holdings in shares of Reliance by 739.1% during the third quarter. Generali Asset Management SPA SGR now owns 1,460 shares of the industrial products company's stock worth $562,000 after purchasing an additional 1,286 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Reliance by 9.3% during the third quarter. Asset Management One Co. Ltd. now owns 41,580 shares of the industrial products company's stock worth $16,001,000 after purchasing an additional 3,522 shares during the period. 79.26% of the stock is currently owned by institutional investors.
Key Headlines Impacting Reliance
Here are the key news stories impacting Reliance this week:
- Neutral Sentiment: JPMorgan raises target but remains cautious: JPMorgan increased its price target for Reliance from $400 to $420 while maintaining a “neutral” rating. The revised target remains below the stock’s recent trading level, suggesting the bank views much of the company’s near-term upside as already reflected in the valuation. JPMorgan Reliance price target update
- Neutral Sentiment: Strong fundamentals remain a backdrop: Reliance’s latest reported quarter showed $8.02 in earnings per share, well above the $6.83 consensus estimate, while revenue rose 42.8% year over year to $5.21 billion. Those results help explain the stock’s strong recent performance, although investors may now expect continued earnings strength.
- Neutral Sentiment: Indian Jio listing news is unrelated to RS: Several reports describe Reliance Industries’ Jio Platforms debuting at a premium after a ₹30,213 crore offering and lifting the Indian conglomerate’s market value above Tata Group. These developments concern Reliance Industries and Jio, not Reliance, Inc. (NYSE: RS), so they should not be treated as a direct catalyst for RS. Jio Platforms listing report
- Neutral Sentiment: Other Reliance-related reports are also separate: A reported order awarded to VA Tech Wabag was made by Reliance Industries, rather than Reliance, Inc., and therefore has no clear direct impact on RS. VA Tech Wabag Reliance Industries order
- Negative Sentiment: COO reduces holdings: Chief Operating Officer Stephen Koch sold 8,334 shares at an average price of $430.87 for approximately $3.59 million, cutting his ownership by about 50%. While executive sales can be routine, the transaction may weigh modestly on sentiment because it occurred near the stock’s recent highs. Stephen Koch SEC insider sale filing
Reliance Company Profile
(
Get Free Report)
Reliance, Inc (NYSE: RS) is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.
The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.
Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.
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