Reliance (NYSE:RS) Upgraded 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 report released on Sunday.

Several other equities analysts have also issued reports on RS. KeyCorp boosted their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Wells Fargo & Company lifted their price target on shares of Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. BMO Capital Markets boosted their price target on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Seaport Research Partners increased their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Reliance presently has an average rating of “Hold” and an average price target of $377.50.

Reliance Price Performance

Shares of NYSE:RS opened at $384.48 on Friday. The business has a 50 day moving average price of $397.77 and a 200 day moving average price of $361.45. Reliance has a twelve month low of $260.31 and a twelve month high of $433.02. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 0.98 and a beta of 0.96. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping 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 the consensus estimate of $4.26 billion. During the same period in the previous year, the business posted $4.43 EPS. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts predict that Reliance will post 22.23 earnings per share for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s payout ratio is presently 29.07%.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Reliance during the 2nd quarter worth about $24,886,000. California State Teachers Retirement System increased its position in Reliance by 20,857.7% in the 2nd quarter. California State Teachers Retirement System now owns 32,965,343 shares of the industrial products company’s stock valued at $12,315,852,000 after acquiring an additional 32,808,048 shares in the last quarter. HB Wealth Management LLC increased its position in Reliance by 23.7% in the 2nd quarter. HB Wealth Management LLC now owns 1,854 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 355 shares in the last quarter. Saudi Central Bank raised its stake in shares of Reliance by 85.4% in the second quarter. Saudi Central Bank now owns 3,578 shares of the industrial products company’s stock worth $1,337,000 after acquiring an additional 1,648 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in shares of Reliance in the second quarter worth about $46,000. 79.26% of the stock is owned by institutional investors.

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.