Reliance’s (RS) “Overweight” Rating Reaffirmed at KeyCorp

Reliance (NYSE:RS)‘s stock had its “overweight” rating restated by KeyCorp in a research note issued on Wednesday,Benzinga reports. They currently have a $341.00 price objective on the industrial products company’s stock. KeyCorp’s target price points to a potential upside of 13.00% from the company’s current price.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Wall Street Zen lowered shares of Reliance from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. JPMorgan Chase & Co. cut Reliance from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $340.00 to $330.00 in a research report on Friday, February 20th. Finally, Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Reliance presently has an average rating of “Hold” and a consensus price target of $328.50.

Reliance Stock Up 0.5%

NYSE RS opened at $301.77 on Wednesday. The company has a market capitalization of $15.61 billion, a P/E ratio of 21.68, a PEG ratio of 1.10 and a beta of 0.91. Reliance has a 12 month low of $250.07 and a 12 month high of $365.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.88 and a quick ratio of 2.30. The company’s 50 day simple moving average is $322.19 and its 200 day simple moving average is $297.55.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.40). Reliance had a return on equity of 10.45% and a net margin of 5.17%.The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm posted $2.22 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Equities research analysts expect that Reliance will post 16.98 earnings per share for the current fiscal year.

Insider Transactions at Reliance

In other news, SVP William A. Smith II sold 6,615 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the completion of the sale, the senior vice president directly owned 21,747 shares of the company’s stock, valued at $6,493,871.67. This trade represents a 23.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of Reliance stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $321.62, for a total value of $7,738,177.20. Following the sale, the chief operating officer owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. This represents a 63.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Reliance

Several hedge funds have recently bought and sold shares of the business. Foundations Investment Advisors LLC bought a new position in shares of Reliance in the third quarter valued at approximately $1,576,000. Principal Financial Group Inc. boosted its holdings in shares of Reliance by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock worth $212,243,000 after buying an additional 30,765 shares during the period. CWA Asset Management Group LLC acquired a new position in Reliance in the 4th quarter valued at $10,297,000. First National Advisers LLC bought a new position in Reliance in the 3rd quarter worth $1,948,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Reliance during the 3rd quarter worth $873,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Company Profile

Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.