Following these transactions, Lewis (JO:LEWJ) holds 85,117 shares directly. Additionally, she maintains indirect ownership of 7,278 shares through the Reliance Steel & Aluminum Co. Employee Stock Ownership Plan and 208 shares through the company's 401(k) Plan. Based on InvestingPro analysis, the stock is currently fairly valued, with comprehensive insights available in the Pro Research Report, including detailed valuation metrics and future growth prospects. Based on InvestingPro analysis, the stock is currently fairly valued, with comprehensive insights available in the Pro Research Report, including detailed valuation metrics and future growth prospects.
Following these transactions, Lewis holds 85,117 shares directly. Additionally, she maintains indirect ownership of 7,278 shares through the Reliance Steel & Aluminum Co. Employee Stock Ownership Plan and 208 shares through the company's 401(k) Plan.
In other recent news, Reliance, Inc. has disclosed steady Q3 earnings despite market challenges, reporting non-GAAP earnings per diluted share of $3.64. This figure represents a 21.7% decrease from the previous quarter but aligns with the company's prior guidance. Amid these conditions, Reliance, Inc. has shown a commitment to growth, completing four acquisitions and repurchasing a significant amount of its common stock.
Cash flow from operations was reported at $463.9 million, with capital expenditures reaching $112.8 million. The company has managed to increase tons sold by 7.1% year-over-year, despite a decline of 4.3% in the average selling price per ton. However, Q4 projections suggest a decrease in both these metrics.
The firm has also announced a $1.5 billion refresh of its share repurchase plan, having already repurchased $951.3 million in shares in the first nine months of 2024. Despite a projected decrease in tons sold for Q4, the company is expecting a year-over-year increase and remains optimistic about demand in 2025. These are the recent developments regarding Reliance, Inc.
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