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

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

Reliance Stock Down 0.7%

NYSE:RS opened at $400.84 on Friday. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. Reliance, Inc. has a twelve month low of $260.31 and a twelve month high of $419.83. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $390.53 and a 200-day simple moving average of $350.65.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the business posted $4.43 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts anticipate that Reliance, Inc. will post 20.37 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is 29.07%.

Hedge Funds Weigh In On Reliance

A number of large investors have recently bought and sold shares of RS. Fulton Bank N.A. boosted its position in Reliance by 4.9% during the 2nd quarter. Fulton Bank N.A. now owns 3,124 shares of the industrial products company’s stock valued at $1,167,000 after acquiring an additional 147 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Reliance in the 2nd quarter worth $418,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Reliance by 542.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock worth $3,649,000 after purchasing an additional 8,246 shares during the last quarter. Apella Capital LLC purchased a new stake in shares of Reliance during the 2nd quarter worth $640,000. Finally, Mirador Capital Partners LP bought a new stake in Reliance during the second quarter valued at about $364,000. Institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the subject of a number of research reports. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a report on Thursday, April 30th. Citigroup restated a “neutral” rating on shares of Reliance in a report on Wednesday. Wells Fargo & Company upped their target price on Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, KeyCorp raised their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Two research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $378.67.

About Reliance

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.