RS Reliance Steel & Aluminum Co

Copeland Capital Management LLC reduced its stake in Reliance, Inc. (NYSE:RS) by 16.2% in the third quarter, selling 27,129 shares but still retaining 140,821 shares valued at approximately $39.55 million. This divestment occurred amidst mixed Q3 earnings for Reliance, which reported $3.64 EPS (missing estimates) and revenue up 6.8% to $3.65 billion, alongside recent insider selling by the COO and CEO totaling about $2.52 million. Despite these moves, hedge funds and institutional investors collectively own 79.26% of Reliance's stock.

This article provides a detailed AI-driven analysis for Reliance Steel & Aluminum Co. (NYSE: RS), highlighting a neutral near-term outlook with potential mid-term strength. It outlines three specific trading strategies—Position, Momentum Breakout, and Risk Hedging—along with multi-timeframe signal analysis and a strong risk-reward setup targeting a 7.5% gain. The piece emphasizes institutional-grade analysis for optimizing trading decisions.

Pacer Advisors Inc. reduced its stake in Reliance, Inc. by 13.0% in Q3, selling 28,494 shares and retaining 190,950 shares valued at approximately $53.6 million. The article details Reliance's recent financial performance, including Q3 earnings and Q4 guidance, alongside significant institutional and insider trading activities. Analyst ratings for Reliance also indicate a "Hold" consensus with an average price target of $317.25.

Swedbank AB increased its stake in Reliance, Inc. by 9.2% in the third quarter, purchasing an additional 4,264 shares to bring its total holding to 50,683 shares valued at $14.23 million. Meanwhile, insider sales were reported, with COO Stephen P. Koch and CEO Karla R. Lewis selling shares in early December, reducing insider ownership to approximately 0.35%. Reliance recently reported Q3 EPS of $3.64, missing estimates, on revenue of $3.65 billion, and declared a quarterly dividend of $1.20, while the stock holds a consensus "Hold" rating with a $317.25 price target.

Reliance (NYSE:RS) shares dropped 8.5% to $270.24 on Wednesday with significantly lower trading volume. The company reported a slight EPS miss but a revenue beat, and analysts maintain a "Hold" rating with an average target of $317.25 despite recent target trims and insider sales from the COO and CEO.

Reliance, Inc.'s high P/E ratio of 21.2x, compared to a market average of under 19x, suggests investors anticipate a strong rebound despite recent earnings declines. Although the company's profits fell 26% over the last year and 55% over three years, analysts forecast 19% growth for the coming year, surpassing the market's 16% projection, which explains the elevated P/E as shareholders expect a more prosperous future. Investors should consider these forward-looking expectations when evaluating the stock.