Insider Selling: Reliance (NYSE:RS) CFO Sells $1,253,420.00 in Stock

Reliance, Inc. (NYSE:RS) CFO Arthur Ajemyan sold 3,500 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the sale, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. This represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Reliance Trading Up 0.9%

Shares of RS opened at $362.75 on Friday. The business’s fifty day moving average is $316.50 and its 200-day moving average is $304.78. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. Reliance, Inc. has a 52-week low of $260.31 and a 52-week high of $365.86.

Reliance (NYSE:RS) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $3.77 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Equities analysts anticipate that Reliance, Inc. will post 18.58 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Reliance’s dividend payout ratio (DPR) is 32.62%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RS. The Goldman Sachs Group began coverage on shares of Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target on the stock. Zacks Research upgraded Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Wells Fargo & Company upped their price objective on shares of Reliance from $323.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. BMO Capital Markets increased their target price on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Reliance has a consensus rating of “Hold” and an average target price of $344.67.

Institutional Trading of Reliance

A number of institutional investors have recently modified their holdings of the business. Elevation Wealth Partners LLC purchased a new stake in shares of Reliance during the fourth quarter worth $28,000. Costello Asset Management INC bought a new stake in shares of Reliance during the 1st quarter valued at about $30,000. Brown Brothers Harriman & Co. grew its stake in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in Reliance in the fourth quarter worth $32,000. Finally, Quarry LP purchased a new position in shares of Reliance in the 3rd quarter worth about $32,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

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.