Reliance, Inc. (NYSE:RS – Free Report) – Analysts at KeyCorp issued their FY2024 EPS estimates for shares of Reliance in a research report issued to clients and investors on Tuesday, January 21st. KeyCorp analyst P. Gibbs forecasts that the industrial products company will post earnings of $16.43 per share for the year. KeyCorp currently has a “Overweight” rating and a $321.00 price target on the stock. The consensus estimate for Reliance’s current full-year earnings is $16.36 per share. KeyCorp also issued estimates for Reliance’s FY2025 earnings at $19.15 EPS.
Reliance (NYSE:RS – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the company earned $5.00 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis.
View Our Latest Analysis on Reliance
Reliance Trading Up 1.0 %
Shares of Reliance stock opened at $290.79 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The stock has a market capitalization of $15.74 billion, a P/E ratio of 15.97 and a beta of 0.91. Reliance has a 52-week low of $256.98 and a 52-week high of $342.20. The stock’s 50-day simple moving average is $290.30 and its 200 day simple moving average is $290.29.
Institutional Investors Weigh In On Reliance
Several hedge funds have recently added to or reduced their stakes in the company. Trust Point Inc. raised its holdings in shares of Reliance by 3.6% during the 3rd quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock valued at $281,000 after buying an additional 34 shares in the last quarter. Fulton Bank N.A. grew its position in Reliance by 3.1% during the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock valued at $454,000 after acquiring an additional 47 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Reliance by 0.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company’s stock worth $2,077,000 after acquiring an additional 49 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Reliance by 27.0% in the 3rd quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 53 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Reliance by 0.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 19,578 shares of the industrial products company’s stock valued at $5,662,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.
Insider Buying and Selling
In other news, CEO Karla R. Lewis sold 3,892 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the transaction, the chief executive officer now owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark V. Kaminski sold 5,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. Insiders sold a total of 21,724 shares of company stock worth $6,856,500 over the last ninety days. 0.69% of the stock is owned by corporate insiders.
About Reliance
Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.
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