Reliance, Inc. (NYSE:RS) Receives $378.67 Consensus Target Price from Brokerages

Reliance, Inc. (NYSE:RS) has been assigned a consensus rating of “Hold” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $377.50.

Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Wall Street Zen raised Reliance from a “buy” rating to a “strong-buy” rating in a report on Sunday. BMO Capital Markets raised their target price on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. Finally, Citigroup restated a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th.

Insider Buying and Selling

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of the company’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 completion of the sale, the chief financial officer directly owned 14,640 shares of the company’s stock, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William A. Smith II sold 2,353 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. The trade was 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 corporate insiders.

Hedge Funds Weigh In On Reliance

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Reliance by 6.6% in the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after buying an additional 940 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Reliance by 4.8% during the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after buying an additional 258 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 131 shares during the period. Walleye Capital LLC grew its stake in shares of Reliance by 2,192.5% during the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 1,162 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Reliance in the 2nd quarter worth approximately $1,318,000. 79.26% of the stock is owned by institutional investors.

Reliance Stock Up 0.5%

Shares of Reliance stock opened at $384.48 on Friday. Reliance has a twelve month low of $260.31 and a twelve month high of $433.02. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $397.77 and its 200 day moving average is $361.45. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Research analysts anticipate that Reliance will post 22.23 EPS for the current year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is presently 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.