Reliance (NYSE:RS) Hits New 1-Year High – Should You Buy?
by Scott Moore · The Cerbat GemReliance, Inc. (NYSE:RS – Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $419.83 and last traded at $415.6140, with a volume of 7182 shares traded. The stock had previously closed at $413.43.
Analyst Ratings Changes
RS has been the topic of several recent analyst reports. Bank of America downgraded Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price on the stock. in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on Reliance from $345.00 to $378.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. The Goldman Sachs Group initiated coverage on Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 target price on the stock. BMO Capital Markets boosted their target price on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company upped their price target on shares of Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Reliance presently has a consensus rating of “Hold” and an average target price of $357.83.
Get Our Latest Report on Reliance
Reliance Trading Up 1.6%
The company’s 50-day moving average is $363.15 and its 200-day moving average is $328.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.24 and a current ratio of 4.39. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.26 and a beta of 0.95.
Reliance (NYSE:RS – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $3.77 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, research analysts predict that Reliance, Inc. will post 19.14 earnings per share for the current year.
Reliance Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 1.2%. Reliance’s dividend payout ratio is currently 32.62%.
Insider Transactions at Reliance
In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $358.12, for a total transaction of $1,253,420.00. Following the transaction, the chief financial officer owned 16,840 shares of the company’s stock, valued at approximately $6,030,740.80. This represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RS. Royal Bank of Canada lifted its position in Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock valued at $4,364,000 after purchasing an additional 940 shares during the period. Empowered Funds LLC lifted its position in 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 purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. lifted its position in 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 purchasing an additional 131 shares during the period. Walleye Capital LLC lifted its stake in shares of Reliance by 2,192.5% in the 2nd quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 1,162 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Reliance in the 2nd quarter valued at $1,318,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.
Reliance Company Profile
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.