KeyCorp Issues Positive Forecast for Reliance (NYSE:RS) Stock Price

Reliance (NYSE:RS) had its target price lifted by KeyCorp from $418.00 to $421.00 in a report released on Monday morning, MarketBeat Ratings reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup reissued a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Wells Fargo & Company cut their target price on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating for the company in a research report on Monday, August 24th. Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Reliance currently has a consensus rating of “Hold” and a consensus price target of $380.33.

Reliance Trading Up 2.1%

Reliance stock opened at $408.86 on Monday. The company’s fifty day simple moving average is $400.12 and its 200-day simple moving average is $375.52. 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 has a 12 month low of $260.31 and a 12 month high of $433.02. The stock has a market cap of $20.87 billion, a P/E ratio of 23.77, a P/E/G ratio of 0.98 and a beta of 0.95.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.47 by $0.80. The company 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 business’s revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, sell-side analysts forecast that Reliance will post 23.23 EPS for the current fiscal year.

Reliance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.

Insider Activity at Reliance

In other news, SVP William Smith, II sold 2,353 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were 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 of the company’s stock, valued at $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RS. Costello Asset Management INC bought a new stake in shares of Reliance during the first quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new position in Reliance in the second quarter valued at about $37,000. Compass Financial Management LLC acquired a new position in Reliance in the second quarter valued at about $46,000. Osterweis Capital Management Inc. bought a new position in Reliance during the second quarter worth about $41,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Reliance by 40.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 167 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 48 shares during the period. Institutional investors own 79.26% of the company’s stock.

About Reliance

Reliance, operating as Reliance Steel & Aluminum Co (NYSE: RS), is a diversified metals service center company. It distributes a broad range of metals, including carbon steel, stainless steel, aluminum, copper, brass, titanium and specialty steel products, serving manufacturers, fabricators, construction companies and other industrial customers.

The company provides value-added services designed to prepare metals for customer use. These services include cutting, leveling, slitting, sawing, machining, forming, coating, welding and other fabrication processes.