Reliance (NYSE:RS) Hits New 1-Year High – Here’s What Happened

Reliance, Inc. (NYSE:RS)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $403.30 and last traded at $400.6770, with a volume of 35845 shares trading hands. The stock had previously closed at $396.26.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RS shares. Wells Fargo & Company lifted their target price on shares of Reliance from $343.00 to $376.00 and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings raised shares of Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Reliance from $345.00 to $378.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on shares of Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 target price on the stock. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $357.83.

Reliance Price Performance

The stock’s 50-day simple moving average is $354.75 and its 200 day simple moving average is $324.57. The company has a quick ratio of 2.24, a current ratio of 4.39 and a debt-to-equity ratio of 0.24. The company has a market cap of $20.19 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.24 and a beta of 0.95.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the company posted $3.77 earnings per share. Reliance’s revenue for the quarter was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, equities research analysts anticipate that Reliance, Inc. will post 18.98 EPS for the current fiscal year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s dividend payout ratio is presently 32.62%.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the transaction, the chief financial officer owned 16,840 shares of the company’s stock, valued at $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is owned by insiders.

Institutional Trading of Reliance

Several hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of Reliance by 1.7% during the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after purchasing an additional 31 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock worth $1,209,000 after buying an additional 34 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Reliance by 1.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock worth $588,000 after buying an additional 35 shares during the period. Kathmere Capital Management LLC increased its stake in shares of Reliance by 4.9% during the fourth quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company’s stock worth $227,000 after buying an additional 37 shares during the period. Finally, Choreo LLC increased its stake in shares of Reliance by 2.9% during the third quarter. Choreo LLC now owns 1,366 shares of the industrial products company’s stock worth $383,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

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.