Brokerages Set Reliance, Inc. (NYSE:RS) Price Target at $379.83

Shares of Reliance, Inc. (NYSE:RS) have earned an average recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $379.8333.

Several equities research analysts recently weighed in on the company. KeyCorp increased their price target on Reliance from $378.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen cut shares of Reliance from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 31st. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $398.00 to $390.00 and set a “neutral” rating for the company in a research note on Wednesday, September 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th.

Reliance Stock Performance

Shares of RS stock opened at $384.63 on Thursday. The stock has a market capitalization of $19.64 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96. Reliance has a 52-week low of $260.31 and a 52-week high of $433.02. The stock’s 50-day moving average price is $400.37 and its 200 day moving average price is $370.37. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period last year, the firm earned $4.43 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, equities research analysts forecast that Reliance will post 22.53 EPS for the current year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $1.25 per share. The ex-dividend date was Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s payout ratio is presently 29.07%.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer directly owned 14,640 shares in the company, valued at $6,004,010.40. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction 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 transaction, the senior vice president directly owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their position. 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Forsta AP Fonden purchased a new position in Reliance in the fourth quarter valued at about $2,022,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Reliance by 542.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock worth $3,649,000 after acquiring an additional 8,246 shares in the last quarter. Cornerstone Capital Inc. acquired a new stake in shares of Reliance in the 2nd quarter worth approximately $23,725,000. Bank of America Corp DE increased its stake in Reliance by 4.9% in the 1st quarter. Bank of America Corp DE now owns 263,191 shares of the industrial products company’s stock valued at $79,989,000 after purchasing an additional 12,282 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new position in Reliance in the 4th quarter valued at approximately $24,154,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Company Profile

Reliance, Inc (NYSE: RS) is a diversified metals service center company that purchases, processes and distributes metals and related industrial products. Its product portfolio includes carbon steel, aluminum, stainless steel, copper, brass, titanium and other specialty metals.

The company provides value-added processing services such as cutting, leveling, sawing, machining, forming and preparing materials to customer specifications. These services help manufacturers and other commercial users reduce material-handling requirements and obtain metals in ready-to-use forms.

Founded in 1939 and headquartered in Los Angeles, California, Reliance serves customers through a network of operations primarily across North America, with additional international capabilities.