Reliance (NYSE:RS) Price Target Raised to $400.00

Reliance (NYSE:RS) had its price target increased by JPMorgan Chase & Co. from $390.00 to $400.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on RS. Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. BMO Capital Markets lifted their price target on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Wells Fargo & Company decreased their price target on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research note on Monday, August 24th. KeyCorp boosted their price objective on Reliance from $418.00 to $421.00 and gave the company an “overweight” rating in a research report on Monday, October 5th. Finally, Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Reliance presently has an average rating of “Hold” and an average price target of $382.00.

Reliance Price Performance

RS stock opened at $402.45 on Friday. The firm has a market cap of $20.55 billion, a P/E ratio of 23.40, a P/E/G ratio of 0.97 and a beta of 0.95. The firm’s fifty day moving average is $399.54 and its 200 day moving average is $378.49. Reliance has a 52 week low of $260.31 and a 52 week high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30.

Reliance (NYSE:RS) last posted its quarterly 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. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the firm posted $4.43 earnings per share. 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. Research analysts predict that Reliance will post 23.70 earnings per share for the current year.

Reliance Announces Dividend

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

Insider Transactions at Reliance

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. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Reliance

Several large investors have recently modified their holdings of RS. Costello Asset Management INC bought a new stake in shares of Reliance during the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Reliance during the second quarter valued at about $37,000. Osterweis Capital Management Inc. purchased a new position in shares of Reliance during the second quarter valued at about $41,000. Compass Financial Management LLC bought a new position in Reliance in the second quarter worth about $46,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Reliance by 40.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 167 shares of the industrial products company’s stock worth $51,000 after buying an additional 48 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

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.