Reliance (NYSE:RS) SVP William Smith II Sells 2,353 Shares of Stock

Reliance, Inc. (NYSE:RS) SVP William Smith II sold 2,353 shares of Reliance stock in a transaction that occurred on 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 owned 19,394 shares in the company, valued at $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Reliance Stock Performance

Shares of RS opened at $403.09 on Thursday. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.19 and a beta of 0.97. Reliance, Inc. has a 12 month low of $260.31 and a 12 month high of $419.83. The firm has a fifty day simple moving average of $389.80 and a 200 day simple moving average of $350.01. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.47 by $0.80. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts forecast that Reliance, Inc. will post 19.84 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Reliance in a research report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target on the stock. Seaport Research Partners upped their target price on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. KeyCorp lifted their price target on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, BMO Capital Markets upped their price objective on Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research note on Monday. Two 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $378.67.

Institutional Trading of Reliance

Several hedge funds and other institutional investors have recently modified their holdings of RS. Norges Bank bought a new position in Reliance in the 4th quarter valued at about $207,691,000. Boston Partners boosted its holdings in shares of Reliance by 27.5% during the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares during the period. Wellington Management Group LLP grew 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 purchasing an additional 343,598 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Reliance by 1,019.0% during the fourth quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after purchasing an additional 311,323 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in 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 purchasing an additional 268,139 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

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.