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Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.

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Hedge funds have always been closely watched for cues on investment opportunities. Although their strategies can be complex, understanding the trends they're bullish on can offer important insights for retail investors. 
Siddharth Singhai, CIO of value-based global hedge fund IronHold Capital, recently shared his perspective on sectors worth watching, and how <a href="https://www.benzinga.com/etfs">ETFs can help investors</a> capitalize on these themes. 
From automobiles and homebuilding to mining and AI, here are some ETFs based on his insights:
<h1 class="wp-block-heading">Automobile Industry On Third Gear</h1>
One area drawing attention is the U.S. auto industry. With protectionist policies likely to intensify under the Trump administration, automakers such as General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) stand to benefit significantly, according to Singhai. 
Possible tariffs on Chinese electric vehicles could set the playing field for these companies, making the U.S. auto sector one to keep a close eye on. 
&#8220;We do anticipate a clear protectionism policy in place for U.S. auto, specifically the big three: General Motors, Ford and Stellantis. Simply because if the tariffs were not put in place against Chinese EVs, U.S. automakers would be at about a 30% to 40% cost disadvantage, which would essentially mean the end of U.S. auto as we know it,&#8221; said Singhai.
However, as a word of caution, he said that one should be wary of auto companies that might face trouble in the face of EV revolution. 
&#8220;We believe U.S. autos and U.S. auto parts suppliers, who have been hit badly due to the excess inventories prevailing in the U.S. auto industry in general, could be a good hunting ground, potentially. Although investors should be focused on auto suppliers that are probably not going to get disrupted by the EV transition,&#8221; Singhai said.
For investors, ETFs like the First Trust S-Network Future Vehicles &amp; Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARZ#NASDAQ">CARZ</a>) offer exposure to the expected surge in domestic automotive manufacturing. The ETF has an expense ratio of 0.7% and among its holdings are Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Ford, General Motors and Stellantis.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43236579/chinas-deepseek-ai-rattles-tech-stocks">China&#8217;s DeepSeek AI Rattles Tech Stocks, Analyst Ives Says Market Plunge &#8216;Golden Buying Opportunity&#8217;</a>
<h1 class="wp-block-heading">Home Building Industry In Focus</h1>
Homebuilders are another promising area, according to Singhai. Despite overvaluation concerns in the equity market, the housing sector continues to experience a significant supply-demand imbalance. Years of undersupply following the 2008 financial crisis created the opportunity for select homebuilding companies to thrive.
&#8220;U.S. market is extremely overvalued at the moment, and there are not that many sectors that could be happy hunting grounds for hedge funds or value investors like us. In general, homebuilders, some of them, seem to be still attractively positioned given the great imbalance between supply and demand, mainly because of years of undersupply post-Great Recession in 2008-&#8217;09. So we believe homebuilders, some of them, present very compelling opportunities,&#8221; Singhai noted.
Investors interested in this space might consider ETFs such as the iShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>), which focuses on leading players in the sector, such as Builders Firstsource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) and Lowes Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>). The expense ratio that this ETF carries is 0.39%.
<h1 class="wp-block-heading">Mining — Hidden Gems To Look For</h1>
Mining is another area that stands out. Many companies in this space, especially low-cost producers, are undervalued and largely overlooked by the market. These firms could see strong performance with a rebound in global demand for raw materials.
&#8220;Mining companies also seem to be hit badly and ignored by investors. You could find some really good mining companies that are the lowest cost producers in their respective industries that could prove to be high performers over the next two to three years,&#8221; Singhai noted from his expertise.
ETFs such as the SPDR S&amp;P Metals and Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) invest in a range of mining companies and could be a good fit for investors looking to capture growth in this area. The ETF carries an expense ratio of 0.35% and holdings in Hecla Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>) and Reliance Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>), among others.
<h1 class="wp-block-heading">AI Trends To Watch</h1>
Singhai also touched upon the continued interest in semiconductors and AI. While these industries are undeniably buzzing, he warns against impulsive investing. Many companies in this space are trading at lofty valuations that may not be sustainable. 
&#8220;I do foresee a lot of hedge funds diving right into semiconductors and AI stocks. I also believe more retail investors will seriously consider allocating capital to this particular sector moving forward as well. However, it is ripe with extreme bubble-like valuations. The marquee names in the AI industry are trading for as high as 20 to 50 times revenue, which to us seems excessive even given the promise of AI,&#8221; he said.
Singhai also added, &#8220;Not all AI companies can capture 50% of the market or even 30% of the market, and if they fail to do so, they cannot foreseeably justify their current valuations. This leads us to the ultimate conclusion that there will be a few big winners and many, many losers within the industry. As such, most AI companies do not deserve their expensive, hefty valuations.&#8221;
For those interested in exploring the AI-driven growth story, a diversified ETF like the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) offers exposure to leading players like NVDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Broadcom Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) while mitigating the risks of betting on individual stocks. And the cost of investing in this ETF is also reasonable at 0.35%.
All that said, Singhai emphasized the route of ETFs should be seen as tools for diversification and steady returns — not as a shortcut to mimicking hedge fund performance. It will be wise for retail investors to focus on sectors with solid fundamentals rather than on speculative trends.
See Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/01/43198940/how-foliobeyonds-innovative-fixed-income-etf-can-provide-low-risk-income-generation-in-volatile-tim">How FolioBeyond&#8217;s Innovative Fixed Income ETF Can Provide Low-Risk Income Generation In Volatile Times</a></li>
</ul>
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IronHold Capital CIO Reveals Trends Hedge Funds Track: 4 ETFs To Watch

Keybanc analyst Philip Gibbs maintains Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) with a Overweight and lowers the price target from $325 to $321.

News

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Keybanc Maintains Overweight on Reliance, Lowers Price Target to $321

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Shares of stocks in the broader metals and mining sector are trading higher in possible sympathy with Rio Tinto and Glencore who announced discussions regarding a potential merger, the largest in mining industry history.

Shares of stocks in the broader metals and mining sector are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Disclosed on December 3, Karla R Lewis, President at Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>), executed a substantial insider sell as per the latest SEC filing.
What Happened: Lewis's decision to sell 3,892 shares of Reliance was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000861884/000106299324019986//Archives/edgar/data/861884/000106299324019986/0001062993-24-019986-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The total value of the sale is $1,260,603.
Tracking the Wednesday's morning session, Reliance shares are trading at $325.1, showing a up of 2.45%.
<h3>Delving into Reliance's Background</h3>
Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.
<h3>Key Indicators: Reliance's Financial Health</h3>
Revenue Challenges: Reliance's revenue growth over 3 months faced difficulties. As of 30 September, 2024, the company experienced a decline of approximately -5.59%. This indicates a decrease in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Materials sector.
Exploring Profitability:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 29.42%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): Reliance's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 3.64.
</li>
</ul>
Debt Management: Reliance's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.21.
Understanding Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 17.37 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 1.29 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Reliance's EV/EBITDA ratio stands at 10.58, surpassing industry benchmarks. This places the company in a position with a higher-than-average market valuation.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Key in Investment Decisions</h3>
Insider transactions should be considered alongside other factors when making investment decisions, as they can offer important insights.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Cracking Transaction Codes</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000861884">Check Out The Full List Of Reliance's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Reliance Insider Trades Send A Signal

Goldman Sachs analyst Mike Harris initiates coverage on Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) with a Neutral rating and announces Price Target of $341.

Initiation

Goldman Sachs Initiates Coverage On Reliance with Neutral Rating, Announces Price Target of $341

It was reported on November 7, that Arthur Ajemyan, SVP at Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) executed a significant insider sell, according to an SEC filing.
What Happened: Ajemyan's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000861884/000106299324018631//Archives/edgar/data/861884/000106299324018631/0001062993-24-018631-index.htm">U.S. Securities and Exchange Commission</a> on Thursday unveiled the sale of 6,332 shares of Reliance. The total transaction value is $2,014,722.
In the Friday's morning session, Reliance's shares are currently trading at $321.03, experiencing a down of 0.0%.
<h3>All You Need to Know About Reliance</h3>
Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.
<h3>Reliance: A Financial Overview</h3>
Revenue Challenges: Reliance's revenue growth over 3 months faced difficulties. As of 30 September, 2024, the company experienced a decline of approximately -5.59%. This indicates a decrease in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Materials sector.
Evaluating Earnings Performance:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 29.42%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Reliance's EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 3.64.
</li>
</ul>
Debt Management: Reliance's debt-to-equity ratio is below the industry average. With a ratio of 0.21, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a higher-than-average P/E ratio of 17.57, Reliance's stock is perceived as being overvalued in the market.
</li>
<li>
Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 1.31, Reliance's stock is perceived as being overvalued in the market, particularly in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 10.69, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Delving Into the Significance of Insider Transactions</h3>
While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Deciphering Transaction Codes in Insider Filings</h3>
Taking a closer look at transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often prioritize those unfolding in the open market, meticulously cataloged in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A signifies a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000861884">Check Out The Full List Of Reliance's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Reliance Recent Insider Activity

On November 7, a recent SEC filing unveiled that William A. Smith II, SVP at Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) made an insider sell.
What Happened: II opted to sell 6,500 shares of Reliance, according to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000861884/000106299324018632//Archives/edgar/data/861884/000106299324018632/0001062993-24-018632-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The transaction's total worth stands at $2,091,114.
Reliance's shares are actively trading at $321.03, experiencing a down of 0.0% during Friday's morning session.
<h3>Discovering Reliance: A Closer Look</h3>
Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.
<h3>Financial Milestones: Reliance's Journey</h3>
Revenue Growth: Reliance's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2024, the company experienced a revenue decline of approximately -5.59%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Materials sector.
Insights into Profitability:
<ul>
<li>
Gross Margin: The company sets a benchmark with a high gross margin of 29.42%, reflecting superior cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Reliance's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 3.64.
</li>
</ul>
Debt Management: Reliance's debt-to-equity ratio is below the industry average at 0.21, reflecting a lower dependency on debt financing and a more conservative financial approach.
Financial Valuation Breakdown:
<ul>
<li>
Price to Earnings (P/E) Ratio: Reliance's stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 17.57.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 1.31 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Reliance's EV/EBITDA ratio of 10.69 exceeds industry averages, indicating a premium valuation in the market
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Exploring the Significance of Insider Trading</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
<h3>Transaction Codes To Focus On</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000861884">Check Out The Full List Of Reliance's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SVP At Reliance Sells $2.09M Of Stock

Mark V Kaminski, Board Member at Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>), executed a substantial insider sell on October 30, according to an SEC filing.
What Happened: A Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000861884/000106299324018132//Archives/edgar/data/861884/000106299324018132/0001062993-24-018132-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday outlined that Kaminski executed a sale of 6,810 shares of Reliance with a total value of $2,029,448.
Reliance's shares are actively trading at $295.0, experiencing a up of 0.22% during Thursday's morning session.
<h3>About Reliance</h3>
Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.
<h3>Reliance's Financial Performance</h3>
Negative Revenue Trend: Examining Reliance's financials over 3 months reveals challenges. As of 30 September, 2024, the company experienced a decline of approximately -6.12% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 29.42%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Reliance's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 3.64.
</li>
</ul>
Debt Management: Reliance's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.21.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: Reliance's P/E ratio of 15.85 is below the industry average, suggesting the stock may be undervalued.
</li>
<li>
Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 1.18, Reliance's stock is perceived as being overvalued in the market, particularly in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Reliance's EV/EBITDA ratio stands at 9.71, surpassing industry benchmarks. This places the company in a position with a higher-than-average market valuation.
</li>
</ul>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Exploring the Significance of Insider Trading</h3>
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
<h3>The Insider's Guide to Important Transaction Codes</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000861884">Check Out The Full List Of Reliance's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Massive Insider Trade At Reliance

Reliance shares are trading lower after BMO Capital cut its price target on the stock from $340 to $330.

BMO Capital analyst Katja Jancic maintains Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) with a Outperform and lowers the price target from $340 to $330.

BMO Capital Maintains Outperform on Reliance, Lowers Price Target to $330

Reliance shares are trading higher after the company reported better-than-expected Q3 revenue results.

Guidance

Reliance Expects Q4 Adj EPS of $2.65 - $2.85 Vs $3.40 Est

Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) reported quarterly earnings of $3.64 per share which missed the analyst consensus estimate of $3.66 by 0.55 percent. The company reported quarterly sales of $3.420 billion which beat the analyst consensus estimate of $3.379 billion by 1.20 percent. This is a 5.60 percent decrease over sales of $3.623 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Reliance Q3 2024 Adj. EPS $3.64 Misses $3.66 Estimate, Sales $3.420B Beat $3.379B Estimate

Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-24. Here's what investors need to know before the announcement.
Analysts estimate that Reliance will report an earnings per share (EPS) of $3.66. 
The announcement from Reliance is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Past Earnings Performance</h3>
During the last quarter, the company reported an EPS missed by $0.08, leading to a 1.33% drop in the share price on the subsequent day.
Here's a look at Reliance's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>4.73</td>
<td>5.55</td>
<td>3.92</td>
<td>5</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>4.65</td>
<td>5.30</td>
<td>4.73</td>
<td>5</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>-1.0%</td>
<td>-2.0%</td>
<td>0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729713690_0.png" alt="eps graph" />
<h3>Market Performance of Reliance's Stock</h3>
Shares of Reliance were trading at $287.19 as of October 22. Over the last 52-week period, shares are up 14.75%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about Reliance</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Reliance.
With 1 analyst ratings, Reliance has a consensus rating of Outperform. The average one-year price target is $325.0, indicating a potential 13.17% upside.
<h3>Comparing Ratings with Competitors</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Steel Dynamics, United States Steel and ATI, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for Steel Dynamics, with an average 1-year price target of $136.82, suggesting a potential 52.36% downside.</li>
<li>The consensus among analysts is an Buy trajectory for United States Steel, with an average 1-year price target of $42.64, indicating a potential 85.15% downside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for ATI, with an average 1-year price target of $77.0, implying a potential 73.19% downside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
The peer analysis summary provides a snapshot of key metrics for Steel Dynamics, United States Steel and ATI, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Reliance</td>
<td>Outperform</td>
<td>-6.11%</td>
<td>$1.09B</td>
<td>3.44%</td>
</tr>
<tr>
<td>Steel Dynamics</td>
<td>Neutral</td>
<td>-6.28%</td>
<td>$774.84M</td>
<td>3.49%</td>
</tr>
<tr>
<td>United States Steel</td>
<td>Buy</td>
<td>-17.77%</td>
<td>$489M</td>
<td>1.62%</td>
</tr>
<tr>
<td>ATI</td>
<td>Buy</td>
<td>4.71%</td>
<td>$227.40M</td>
<td>6.25%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Reliance underperforms in revenue growth compared to peers. Reliance has the highest gross profit among peers. Reliance has the highest return on equity among peers.
<h3>All You Need to Know About Reliance</h3>
Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.
<h3>Financial Insights: Reliance</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Reliance's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -6.11%. This indicates a decrease in the company's top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Reliance's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 7.35% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Reliance's ROE excels beyond industry benchmarks, reaching 3.44%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Reliance's ROA excels beyond industry benchmarks, reaching 2.53%. This signifies efficient management of assets and strong financial health.
Debt Management: Reliance's debt-to-equity ratio is below the industry average at 0.18, reflecting a lower dependency on debt financing and a more conservative financial approach.
<a href="https://www.benzinga.com/quote/RS/earnings">To track all earnings releases for Reliance visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse of Reliance's Earnings Potential

Reliance's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) short percent of float has fallen 7.53% since its last report. The company recently reported that it has 1.12 million shares sold short, which is 2.7% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.69 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Reliance Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729627220_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Reliance has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Reliance's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Reliance's peer group average for short interest as a percentage of float is 4.57%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(RS) - Analyzing Reliance's Short Interest

Keybanc analyst Philip Gibbs maintains Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) with a Overweight and lowers the price target from $335 to $325.

Keybanc Maintains Overweight on Reliance, Lowers Price Target to $325

Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) has outperformed the market over the past 5 years by 9.06% on an annualized basis producing an average annual return of 23.2%. Currently, Reliance has a market capitalization of $15.59 billion. 
Buying $100 In RS: If an investor had bought $100 of RS stock 5 years ago, it would be worth $278.89 today based on a price of $283.46 for RS at the time of writing.
<h3>Reliance's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728423023_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Reliance 5 Years Ago Would Be Worth Today

Reliance's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) short percent of float has risen 5.42% since its last report. The company recently reported that it has 1.21 million shares sold short, which is 2.92% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.23 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Reliance Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727880318_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Reliance has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Reliance's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Reliance's peer group average for short interest as a percentage of float is 5.25%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Reliance?

The company also announced the appointment of James K. Kamsickas, 57, to serve as an independent director. Kamsickas&#39; term took effect on October 1, 2024 and will expire at the Company&#39;s 2025 Annual Meeting of Stockholders.
Consistent with corporate governance best practices and Reliance&#39;s strategic, deliberate and well-executed long-term succession plan, Mark Kaminski will step down from the position of non-executive Chairman of the Board effective January 1, 2025. Kaminski has served as Reliance&#39;s independent, non-executive Chairman since July 2016. Kaminski will continue to serve as a member of the Company&#39;s Board of Directors.
On October 1, 2024, the Board of Directors unanimously appointed Douglas W. Stotlar as Reliance&#39;s independent, non-executive Chairman of the Board effective January 1, 2025. Stotlar has served on Reliance&#39;s Board of Directors since October 2016.
&nbsp;

Management

Reliance Names Douglas Stotlar As Independent, Non-executive Chairman Of Board, Effective January 1, 2025; Mark Kaminski To Continue To Serve As Member Of Board

Reliance Steel ( ($RS) ) has shared an announcement. Reliance Steel announced that Mark V. Kaminski, a longstanding board member since 2004, will n...

Reliance Steel Announces Board Member Retirement Plan

Steel is a foundational building material and a major market commodity with important taxing rules and import guidelines, the enforcement of which benefits economic advancement and safeguards the nation's infrastructure.

Playing By The Rules: The Importance Of Import Regulation On Managing Domestic Steel Supply

Hartford MidCap Value Fund Q3 2024 Commentary

Reliance: As Strong As Steel

Iron ore and gold: two defensive plays over the next 12-18 months amid tariffs risk

Wolfe Research upgraded Reliance (RS) to Peer Perform from Underperform. Published first on TheFly – the ultimate source for real-time, market-movi...

Reliance upgraded to Peer Perform from Underperform at Wolfe Research

As previously reported, Wolfe Research upgraded Reliance (RS) to Peer Perform from Underperform and removed the firm's previous $272 price target A...

Reliance upgraded to Peer Perform at Wolfe Research following correction

Analysts have been eager to weigh in on the Materials sector with new ratings on Reliance Steel (RS – Research Report) and BHP Group Ltd (BHPLF – R...

Analysts Have Conflicting Sentiments on These Materials Companies: Reliance Steel (RS) and BHP Group Ltd (OtherBHPLF)

KeyBanc lowered the firm's price target on Reliance (RS) to $321 from $325 given lower earnings estimates, while keeping an Overweight rating on th...

Reliance price target lowered to $321 from $325 at KeyBanc

Tracking Yacktman Asset Management Portfolio - Q4 2024 Update

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BHPLF

BKIRF

BOIVF

CIAFF

CMILD

CTSH

FANG

FBIN

FOXA

FSUMF

GLCNF

GNTX

GOOG

GOOGL

GRRLF

IART

ICUI

INGR

KIROY

KVUE

LIFZF

MITSY

MSFT

NDAQ

NWSA

NWSAL

SCHW

SSAAF

SSNLF

STLD

UHAL

VALE

WFCNP

Press Releases

General

Reliance, Inc. Announces Upcoming Conference Participation

Reliance, Inc. to Announce Second Quarter 2024 Results on Thursday, July 25th

Reliance, Inc. Agrees to Acquire Tolling Assets from FerrouSouth

Reliance, Inc. Reports Second Quarter 2024 Financial Results

Reliance, Inc. to Ring the Closing Bell at the New York Stock Exchange to Commemorate its 30th Anniversary as a Public Company

Financing

Reliance, Inc. Announces Amended and Restated $1.5 Billion Credit Facility

Reliance, Inc. Announces Appointment of James K. Kamsickas to Board of Directors and Douglas W. Stotlar as Chairman of the Board

Reliance, Inc. to Announce Third Quarter 2024 Results on Thursday, October 24th

Reliance, Inc. Reports Third Quarter 2024 Financial Results

Reliance, Inc. Announces Participation at the Baird 2024 Global Industrial Conference

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