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

Reliance, Inc. (NYSE:RS) CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Reliance Price Performance

Shares of NYSE:RS opened at $409.33 on Tuesday. Reliance, Inc. has a 52 week low of $260.31 and a 52 week high of $419.83. 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. The firm’s 50 day moving average is $392.18 and its two-hundred day moving average is $352.02. 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 released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts anticipate that Reliance, Inc. will post 20.37 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $1.25 dividend. 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 currently 29.07%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RS shares. Wells Fargo & Company lifted their target price on shares of Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. KeyCorp lifted their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. BMO Capital Markets upped their price target on Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $378.67.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. ProCore Advisors LLC bought a new position in shares of Reliance during the 4th quarter worth about $18,787,000. Arjuna Capital bought a new stake in Reliance in the fourth quarter valued at about $1,838,000. PFA Pension Forsikringsaktieselskab acquired a new position in Reliance in the fourth quarter worth about $61,317,000. Forsta AP Fonden acquired a new position in Reliance in the fourth quarter worth about $2,022,000. Finally, Fulcrum Wealth Advisors LLC bought a new position in Reliance during the fourth quarter worth about $2,529,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

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.