Reliance (NYSE:RS) Research Coverage Started at The Goldman Sachs Group
by Jessica Moore · The Cerbat GemThe Goldman Sachs Group initiated coverage on shares of Reliance (NYSE:RS – Free Report) in a research report report published on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $300.00 target price on the industrial products company’s stock.
Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Reliance from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $340.00 to $330.00 in a research note on Friday, February 20th. Zacks Research raised shares of Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. Wells Fargo & Company upped their target price on shares of Reliance from $315.00 to $323.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Reliance from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $322.80.
View Our Latest Analysis on Reliance
Reliance Stock Up 0.0%
NYSE:RS opened at $305.43 on Wednesday. Reliance has a 52 week low of $250.07 and a 52 week high of $365.59. The stock’s fifty day moving average is $318.66 and its two-hundred day moving average is $297.99. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.15 and a beta of 0.88. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20.
Reliance (NYSE:RS – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.40). The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.45 billion. Reliance had a net margin of 5.17% and a return on equity of 10.45%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.22 earnings per share. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Research analysts anticipate that Reliance will post 16.98 EPS for the current year.
Reliance Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. This is an increase from Reliance’s previous quarterly dividend of $1.20. Reliance’s dividend payout ratio is 35.79%.
Insider Transactions at Reliance
In other news, COO Stephen Paul Koch sold 24,060 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the completion of the transaction, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 6,615 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the sale, the senior vice president owned 21,747 shares in the company, valued at $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.35% of the company’s stock.
Institutional Investors Weigh In On Reliance
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Reliance by 6.6% during the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after purchasing an additional 940 shares in the last quarter. Empowered Funds LLC raised its stake in Reliance by 4.8% in the first 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. lifted its holdings in Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after buying an additional 131 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Reliance by 17.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 555 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 84 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Reliance during the 2nd quarter worth about $298,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.
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.