Reliance (NYSE:RS) COO Stephen Paul Koch Sells 8,334 Shares of Stock

Reliance, Inc. (NYSE:RS) COO Stephen Koch sold 8,334 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $430.87, for a total transaction of $3,590,870.58. Following the completion of the transaction, the chief operating officer owned 8,209 shares in the company, valued at $3,537,011.83. The trade was a 50.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Reliance Trading Up 1.1%

Shares of RS stock opened at $437.72 on Thursday. The company has a quick ratio of 2.22, a current ratio of 4.12 and a debt-to-equity ratio of 0.21. Reliance, Inc. has a fifty-two week low of $263.12 and a fifty-two week high of $438.99. The firm’s 50 day moving average price is $398.40 and its two-hundred day moving average price is $366.92. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.95.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.83 by $1.19. Reliance had a net margin of 6.38% and a return on equity of 15.31%. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $3.64 earnings per share. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. On average, analysts anticipate that Reliance, Inc. will post 24.63 EPS for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, November 20th. This represents a $5.00 annualized dividend and a dividend yield of 1.1%. Reliance’s payout ratio is presently 23.31%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Childress Capital Advisors LLC boosted its position in Reliance by 4.9% in the 3rd quarter. Childress Capital Advisors LLC now owns 600 shares of the industrial products company’s stock valued at $231,000 after buying an additional 28 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Reliance by 4.9% during the third quarter. Citizens Financial Group Inc. RI now owns 616 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 29 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock valued at $580,000 after acquiring an additional 31 shares in the last quarter. Greenleaf Trust increased its position in shares of Reliance by 2.0% during the second quarter. Greenleaf Trust now owns 1,614 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 32 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its position in shares of Reliance by 4.8% during the first quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock worth $250,000 after acquiring an additional 38 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RS has been the subject of several recent research reports. Barclays increased their price target on Reliance from $420.00 to $445.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th. Wall Street Zen cut Reliance from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. KeyCorp upped their target price on Reliance from $421.00 to $437.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $400.29.

Reliance News Roundup

Here are the key news stories impacting Reliance this week:

• Neutral Sentiment: JPMorgan raises target but remains cautious: JPMorgan increased its price target for Reliance from $400 to $420 while maintaining a “neutral” rating. The revised target remains below the stock’s recent trading level, suggesting the bank views much of the company’s near-term upside as already reflected in the valuation. JPMorgan Reliance price target update
• Neutral Sentiment: Strong fundamentals remain a backdrop: Reliance’s latest reported quarter showed $8.02 in earnings per share, well above the $6.83 consensus estimate, while revenue rose 42.8% year over year to $5.21 billion. Those results help explain the stock’s strong recent performance, although investors may now expect continued earnings strength.
• Neutral Sentiment: Indian Jio listing news is unrelated to RS: Several reports describe Reliance Industries’ Jio Platforms debuting at a premium after a ₹30,213 crore offering and lifting the Indian conglomerate’s market value above Tata Group. These developments concern Reliance Industries and Jio, not Reliance, Inc. (NYSE: RS), so they should not be treated as a direct catalyst for RS. Jio Platforms listing report
• Neutral Sentiment: Other Reliance-related reports are also separate: A reported order awarded to VA Tech Wabag was made by Reliance Industries, rather than Reliance, Inc., and therefore has no clear direct impact on RS. VA Tech Wabag Reliance Industries order
• Negative Sentiment: COO reduces holdings: Chief Operating Officer Stephen Koch sold 8,334 shares at an average price of $430.87 for approximately $3.59 million, cutting his ownership by about 50%. While executive sales can be routine, the transaction may weigh modestly on sentiment because it occurred near the stock’s recent highs. Stephen Koch SEC insider sale filing

About Reliance

Reliance, Inc (NYSE: RS) is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.