Reliance (NYSE:RS) Sets New 1-Year High – Here’s Why

Reliance, Inc. (NYSE:RS) reached a new 52-week high during trading on Monday . The company traded as high as $419.83 and last traded at $415.6140, with a volume of 7182 shares changing hands. The stock had previously closed at $413.43.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a report on Thursday, April 30th. Seaport Research Partners increased their price target on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $357.83.

Reliance Stock Performance

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 business has a 50 day simple moving average of $359.01 and a two-hundred day simple moving average of $326.51. The firm has a market cap of $20.94 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.95.

Reliance (NYSE:RS) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the firm posted $3.77 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts forecast that Reliance, Inc. will post 19.14 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $1.25 per share. The ex-dividend date was Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is currently 32.62%.

Insider Activity at Reliance

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

Hedge Funds Weigh In On Reliance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC purchased a new position in Reliance in the fourth quarter valued at about $28,000. Costello Asset Management INC purchased a new stake in shares of Reliance during the first quarter worth about $30,000. Brown Brothers Harriman & Co. grew its stake in shares of Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Greenline Wealth Management LLC purchased a new stake in shares of Reliance during the fourth quarter worth about $32,000. Finally, Quarry LP purchased a new stake in shares of Reliance during the third quarter worth about $32,000. 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.