Reliance, Inc. (NYSE:RS) Receives Average Recommendation of “Hold” from Brokerages

Shares of Reliance, Inc. (NYSE:RS) have received an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $378.6667.

RS has been the subject of a number of recent research reports. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price objective for the company. in a research report on Thursday, April 30th. Wall Street Zen upgraded Reliance from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wells Fargo & Company upped their target price on Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, KeyCorp increased 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.

Insider Activity

In other news, CFO Arthur Ajemyan sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $410.11, for a total transaction of $902,242.00. Following the sale, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the company’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 position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Reliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in shares of Reliance in the first quarter valued at $30,000. Brown Brothers Harriman & Co. grew its holdings in shares of 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. Greenline Wealth Management LLC acquired a new position in Reliance during the fourth quarter valued at $32,000. Quarry LP purchased a new stake in Reliance in the 3rd quarter worth about $32,000. Finally, Parkside Financial Bank & Trust lifted its stake in Reliance by 87.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Up 1.5%

NYSE RS opened at $415.72 on Wednesday. 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’s 50 day simple moving average is $392.97 and its 200 day simple moving average is $352.73. Reliance has a 12 month low of $260.31 and a 12 month high of $419.83. The company has a market capitalization of $21.23 billion, a P/E ratio of 24.17, a PEG ratio of 1.10 and a beta of 0.96.

Reliance (NYSE:RS) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, beating the consensus estimate of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities research analysts expect that Reliance will post 21.33 earnings per share for the current fiscal year.

Reliance Announces Dividend

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

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.