Reliance (NYSE:RS) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Reliance (NYSE:RS) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Other equities analysts also recently issued research reports about the stock. Bank of America downgraded shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective on the stock. in a report on Thursday, April 30th. BMO Capital Markets lifted their target price on shares of Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wells Fargo & Company upped their price target on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Seaport Research Partners raised their price target on shares of Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $378.67.

Reliance Stock Up 1.5%

Shares of RS stock opened at $406.98 on Friday. Reliance has a 1-year low of $260.31 and a 1-year high of $419.83. The stock’s fifty day moving average price is $391.33 and its 200 day moving average price is $351.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The company has a market cap of $20.78 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the company posted $4.43 EPS. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. On average, research analysts expect that Reliance will post 20.37 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Reliance’s payout ratio is presently 29.07%.

Insider Buying and Selling

In other news, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RS. Norges Bank acquired a new position in shares of Reliance during the 4th quarter worth approximately $207,691,000. Boston Partners lifted its position in shares of Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after buying an additional 484,286 shares in the last quarter. Wellington Management Group LLP grew its stake in Reliance by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after acquiring an additional 343,598 shares during the period. Corient Private Wealth LLC grew its stake in Reliance by 1,019.0% in the 4th quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock valued at $98,758,000 after acquiring an additional 311,323 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Reliance by 4,419.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock worth $79,210,000 after acquiring an additional 268,139 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

About Reliance

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.