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 report published on Saturday.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. decreased their price target on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Bank of America lowered shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target for the company. in a research note on Thursday, April 30th. KeyCorp upped their price target on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, BMO Capital Markets increased their price objective on shares of Reliance from $390.00 to $415.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and an average target price of $378.67.

Reliance Stock Up 0.8%

Shares of Reliance stock opened at $409.33 on Friday. The business has a 50-day moving average of $392.18 and a 200-day moving average of $352.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The company has a market capitalization of $20.90 billion, a PE ratio of 23.80, a P/E/G ratio of 1.14 and a beta of 0.96. Reliance has a 1-year low of $260.31 and a 1-year high of $419.83.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities analysts forecast that Reliance will post 20.37 EPS for the current fiscal year.

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Insider Activity at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

Large investors have recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in Reliance during the first quarter valued at $30,000. Brown Brothers Harriman & Co. lifted its position in shares of 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 buying an additional 50 shares during the last quarter. Greenline Wealth Management LLC bought a new position in shares of Reliance in the 4th quarter worth about $32,000. Quarry LP acquired a new position in shares of Reliance in the 3rd quarter valued at about $32,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock valued at $34,000 after buying an additional 55 shares during the period. 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.