Reliance (NYSE:RS) Sets New 1-Year High – Should You Buy?

Reliance, Inc. (NYSE:RS)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $431.05 and last traded at $427.18, with a volume of 316394 shares changing hands. The stock had previously closed at $423.88.

Analyst Upgrades and Downgrades

RS has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. BMO Capital Markets upped their price target on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Wells Fargo & Company lifted their price objective on Reliance from $372.00 to $398.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Finally, Seaport Research Partners boosted their target price on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $378.67.

Reliance Price Performance

The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The stock has a market cap of $21.78 billion, a P/E ratio of 24.80, a PEG ratio of 1.09 and a beta of 0.96. The firm’s fifty day moving average price is $397.63 and its 200-day moving average price is $356.87.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts forecast that Reliance, Inc. will post 22.23 earnings per share for the current year.

Reliance Dividend Announcement

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

Insider Activity

In other news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction dated Friday, July 31st. The shares were 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 in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction dated Tuesday, July 28th. The stock was 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 approximately $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Reliance

A number of large investors have recently made changes to their positions in the business. Costello Asset Management INC purchased a new stake in Reliance in the first quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in Reliance during the 2nd quarter valued at $37,000. Brown Brothers Harriman & Co. raised its holdings in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new position in Reliance in the 4th quarter worth $32,000. Finally, Quarry LP bought a new position in Reliance in the 3rd quarter worth $32,000. 79.26% of the stock is currently owned by institutional investors.

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.