Reliance (NYSE:RS) Releases Quarterly Earnings Results, Beats Estimates By $0.83 EPS

Reliance (NYSE:RS) released its earnings results on Wednesday. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.44 by $0.83, FiscalAI reports. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Reliance updated its Q3 2026 guidance to 6.400-6.600 EPS.

Reliance Stock Up 0.7%

NYSE:RS traded up $2.83 during trading hours on Wednesday, hitting $386.25. The stock had a trading volume of 523,074 shares, compared to its average volume of 352,769. The company has a market cap of $19.72 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. The business has a 50 day simple moving average of $385.14 and a two-hundred day simple moving average of $345.64. Reliance has a 1-year low of $260.31 and a 1-year high of $419.83. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Wells Fargo & Company reduced their target price on Reliance from $376.00 to $372.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. KeyCorp boosted their price target on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. BMO Capital Markets boosted their price target on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Finally, Seaport Research Partners boosted their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $363.50.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the transaction, the chief financial officer directly owned 16,840 shares in the company, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

A number of institutional investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. boosted its position in shares of Reliance by 1.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock valued at $588,000 after purchasing an additional 35 shares during the period. Transamerica Financial Advisors LLC raised its holdings in Reliance by 31.4% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 201 shares of the industrial products company’s stock worth $63,000 after buying an additional 48 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Reliance by 87.3% during the fourth 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 in the last quarter. Finally, Principal Securities Inc. lifted its stake in Reliance by 7.3% during the fourth quarter. Principal Securities Inc. now owns 842 shares of the industrial products company’s stock valued at $243,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

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.