Reliance (NYSE:RS) Posts Earnings Results, Beats Expectations By $0.83 EPS

Reliance (NYSE:RS) posted its quarterly earnings results on Wednesday. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.44 by $0.83, FiscalAI reports. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.25 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. Reliance updated its Q3 2026 guidance to 6.400-6.600 EPS.

Reliance Price Performance

Shares of RS traded up $2.83 during trading hours on Wednesday, reaching $386.25. The stock had a trading volume of 523,074 shares, compared to its average volume of 354,197. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. Reliance has a 12 month low of $260.31 and a 12 month high of $419.83. The stock has a market capitalization of $19.72 billion, a PE ratio of 25.20, a PEG ratio of 1.18 and a beta of 0.97. The company’s 50-day moving average is $385.14 and its two-hundred day moving average is $345.64.

Insiders Place Their Bets

In related news, CFO Arthur Ajemyan sold 3,500 shares of the business’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 sale, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. The trade was a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Reliance

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in Reliance by 7.9% in the 4th quarter. Invesco Ltd. now owns 192,307 shares of the industrial products company’s stock valued at $55,552,000 after buying an additional 14,135 shares during the last quarter. Corient Private Wealth LLC increased its position in Reliance by 1,018.9% in the 4th quarter. Corient Private Wealth LLC now owns 341,827 shares of the industrial products company’s stock valued at $98,744,000 after acquiring an additional 311,276 shares during the period. Alpine Woods Capital Investors LLC increased its position in Reliance by 7.1% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 8,987 shares of the industrial products company’s stock valued at $2,596,000 after acquiring an additional 596 shares during the period. First Citizens Bank & Trust Co. raised 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 valued at $588,000 after acquiring an additional 35 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Reliance during the fourth quarter valued at $240,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RS shares. JPMorgan Chase & Co. reduced their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. KeyCorp upped their price objective on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. BMO Capital Markets raised their price objective on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Reliance currently has an average rating of “Hold” and an average price target of $363.50.

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.