Reliance (NYSE:RS) CFO Sells 2,200 Shares of Stock

Key Points

• Reliance CFO Arthur Ajemyan sold 2,200 shares at an average price of $410.11, generating $902,242 and reducing his direct ownership by 13.06% to 14,640 shares.
• Reliance reported strong quarterly results, with EPS of $6.27 beating estimates by $0.80 and revenue rising 26.5% year over year to $4.63 billion. The company guided for third-quarter EPS of $6.40–$6.60.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $378.67.

Reliance, Inc. (NYSE:RS - Get Free Report) 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 value 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 $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Reliance Price Performance

Shares of NYSE RS opened at $409.33 on Tuesday. The firm has a market capitalization of $20.90 billion, a P/E ratio of 23.80, a PEG ratio of 1.14 and a beta of 0.96. Reliance, Inc. has a one year low of $260.31 and a one year high of $419.83. The company's fifty day moving average is $392.18 and its two-hundred day moving average is $352.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30.

Reliance (NYSE:RS - Get Free Report) last released its quarterly 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 business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company's quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts forecast that Reliance, Inc. will post 20.37 EPS for the current fiscal year.

Reliance Dividend Announcement

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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance's dividend payout ratio is 29.07%.

Institutional Investors Weigh In On Reliance

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Reliance during the fourth quarter valued at approximately $207,691,000. Boston Partners raised its position in shares of Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company's stock valued at $631,224,000 after acquiring an additional 484,286 shares in the last quarter. Wellington Management Group LLP lifted its stake in Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company's stock worth $479,870,000 after purchasing an additional 343,598 shares during the last quarter. Corient Private Wealth LLC increased its stake in 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 valued at $98,758,000 after purchasing an additional 311,323 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Reliance by 4,419.6% in 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 last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Reliance from $390.00 to $415.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Seaport Research Partners increased their price objective 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. KeyCorp lifted 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. Wells Fargo & Company upped their target price on shares of Reliance from $372.00 to $398.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Bank of America downgraded shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price target on the stock. in a research note on Thursday, April 30th. 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. According to data from MarketBeat, Reliance currently has a consensus rating of "Hold" and an average price target 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.

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