Reliance (NYSE:RS – Get Free Report) posted its earnings results on Thursday. The industrial products company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08), Briefing.com reports. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $6.49 EPS. Reliance updated its Q3 guidance to $3.60-3.80 EPS and its Q3 2024 guidance to 3.600-3.800 EPS.
Reliance Stock Performance
RS traded down $4.10 during trading hours on Friday, hitting $304.05. 446,972 shares of the stock were exchanged, compared to its average volume of 312,086. The stock has a 50-day simple moving average of $291.32 and a 200-day simple moving average of $302.30. Reliance has a 12 month low of $237.14 and a 12 month high of $342.20. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of 14.20 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.74 and a quick ratio of 3.21.
Reliance Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, August 16th. Reliance’s dividend payout ratio (DPR) is presently 20.55%.
Wall Street Analyst Weigh In
Check Out Our Latest Report on RS
Insider Buying and Selling
In other Reliance news, COO Stephen Paul Koch sold 20,421 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $295.38, for a total value of $6,031,954.98. Following the sale, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at $2,230,709.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Donald Hoffman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the transaction, the director now directly owns 49,042 shares of the company’s stock, valued at $14,212,862.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen Paul Koch sold 20,421 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the transaction, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The disclosure for this sale can be found here. Insiders have sold 40,421 shares of company stock worth $11,866,855 over the last ninety days. 0.69% of the stock is owned by insiders.
Reliance Company Profile
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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