Executive sales and holdings
On February 23, 2026, Stephen Paul Koch, Executive Vice President and Chief Operating Officer of Reliance, Inc. (NASDAQ:RS), sold a combined 24,060 shares of the company's common stock. The aggregate proceeds from those sales amounted to approximately $7.7 million across multiple transactions.
The disposals were split into distinct tranches. Koch sold 13,888 shares at a weighted average price of $321.39, with execution prices spanning $320.73 to $321.73. A further 10,132 shares changed hands at an average of $321.94, with trade prices ranging from $321.75 to $322.74. In addition, 40 shares were sold at $322.80 per share.
For context, the stock is quoted at $316.75, and the company carries a market capitalization of $16.37 billion and a price-to-earnings ratio of 22.68.
Concurrent acquisition and post-transaction ownership
The filings indicate that on the same date Koch acquired 24,060 shares of Reliance, Inc. common stock at $0. After accounting for the day's transactions, Koch is recorded as directly owning 14,021 shares of the company's stock.
Valuation note
According to InvestingPro analysis cited in the filings, Reliance’s stock currently appears overvalued relative to its Fair Value. The notice references a comprehensive Pro Research Report on InvestingPro for additional valuation context and further analytical guidance.
Related corporate results and analyst actions
In separate corporate disclosures, Reliance Steel & Aluminum reported fourth-quarter 2025 earnings per share of $2.96, ahead of the $2.80 consensus forecast, and revenue of $3.5 billion, topping the projected $3.43 billion. Despite those results, the company was subject to analyst downgrades.
JPMorgan lowered its rating on Reliance Steel from Overweight to Neutral, citing margin pressure tied to aluminum price volatility and higher-than-expected selling, general, and administrative expenses. BMO Capital also downgraded the stock from Outperform to Market Perform, citing a more moderate margin recovery than previously expected and limited near-term catalysts. The firms adjusted their price targets to $330 (JPMorgan) and $320 (BMO Capital), respectively.
What this means
The filings document a significant insider disposition occurring alongside a reported zero-dollar acquisition on the same day and come amid a market valuation assessment that flags the shares as appearing overvalued. Separately, better-than-expected quarterly results for Reliance Steel & Aluminum coexist with analyst skepticism about the sustainability of margin improvement.
Summary of key factual elements
- Stephen Paul Koch sold 24,060 shares on Feb. 23, 2026 for about $7.7 million in total.
- Sale tranches: 13,888 shares at a weighted average $321.39 (range $320.73 - $321.73); 10,132 shares at average $321.94 (range $321.75 - $322.74); plus 40 shares at $322.80.
- Koch recorded an acquisition of 24,060 shares at $0 on the same day and now directly owns 14,021 shares.
- Reliance stock quoted at $316.75 with market capitalization $16.37 billion and P/E ratio 22.68.
- InvestingPro reports the stock appears overvalued relative to Fair Value and offers a Pro Research Report for deeper analysis.
- Reliance Steel & Aluminum reported Q4 2025 EPS $2.96 (vs. $2.80 forecast) and revenue $3.5 billion (vs. $3.43 billion forecast), but faced downgrades from JPMorgan and BMO Capital.