Reliance (NYSE:RS) SVP Sells $974,636.13 in Stock

Reliance, Inc. (NYSE:RS) SVP William Smith II sold 2,353 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the transaction, the senior vice president directly owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Reliance Trading Up 1.5%

NYSE RS opened at $406.98 on Friday. Reliance, Inc. has a 1 year low of $260.31 and a 1 year high of $419.83. 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 company has a market capitalization of $20.78 billion, a PE ratio of 23.66, a P/E/G ratio of 1.12 and a beta of 0.97. The company has a fifty day moving average of $391.33 and a 200 day moving average of $351.05.

Reliance (NYSE:RS) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the firm earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts forecast that Reliance, Inc. will post 20.37 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. Investors of record on Friday, August 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is 29.07%.

Hedge Funds Weigh In On Reliance

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Reliance during the fourth quarter worth approximately $207,691,000. Boston Partners increased its position in shares of Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after buying an additional 484,286 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after buying an additional 343,598 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Reliance by 1,019.0% during the 4th quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after buying an additional 311,323 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Reliance by 4,419.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock worth $79,210,000 after buying an additional 268,139 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RS. Wells Fargo & Company lifted their price target on Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. 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 report on Monday, July 27th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Citigroup reaffirmed a “neutral” rating on shares of Reliance in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $378.67.

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.