Reliance (NYSE:RS) CFO Arthur Ajemyan Sells 2,200 Shares

Reliance, Inc. (NYSE:RS) CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Reliance Stock Up 1.5%

NYSE:RS opened at $415.72 on Wednesday. The company has a market cap of $21.23 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 1.10 and a beta of 0.96. 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 stock’s fifty day moving average price is $392.97 and its two-hundred day moving average price is $352.73. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $419.83.

Reliance (NYSE:RS) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business’s revenue for the quarter was up 26.5% on a year-over-year basis. 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. On average, analysts anticipate that Reliance, Inc. will post 21.33 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders 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 payout ratio is currently 29.07%.

Hedge Funds Weigh In On Reliance

A number of hedge funds and other institutional investors have recently made changes to their positions in RS. Royal Bank of Canada raised its stake in Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after buying an additional 940 shares during the period. Empowered Funds LLC increased its holdings in shares of Reliance by 4.8% in the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock worth $1,635,000 after acquiring an additional 258 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares during the period. Walleye Capital LLC lifted its holdings in shares of Reliance by 2,192.5% during the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 1,162 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Reliance in the 2nd quarter valued at approximately $1,318,000. 79.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a research note on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. KeyCorp raised their price objective on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, 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 research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.