Reliance (NYSE:RS) Sets New 1-Year High – Here’s Why

Reliance, Inc. (NYSE:RS) reached 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.

Analysts Set New Price Targets

RS has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Reliance from $343.00 to $376.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. 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 note on Monday, April 27th. Seaport Research Partners boosted their price target on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group started coverage on Reliance in a research note on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price target for the company. Finally, Bank of America cut shares of Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 target price for the company. in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Reliance has a consensus rating of “Hold” and a consensus target price of $357.83.

Reliance Trading Down 0.8%

The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $20.94 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.27 and a beta of 0.95. The stock has a 50 day moving average of $359.01 and a 200-day moving average of $326.51.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share 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 business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company posted $3.77 EPS. The firm’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 EPS for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, May 22nd. Reliance’s dividend payout ratio is presently 32.62%.

Insiders Place Their Bets

In other Reliance news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was 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 $6,030,740.80. This represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Reliance

Institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC bought a new position in shares of Reliance during the 4th quarter valued at approximately $28,000. Costello Asset Management INC bought a new position in shares of Reliance during the 1st quarter valued at approximately $30,000. Brown Brothers Harriman & Co. boosted its position in shares of Reliance by 86.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 50 shares during the last quarter. Greenline Wealth Management LLC bought a new position in shares of Reliance during the 4th quarter valued at approximately $32,000. Finally, Quarry LP bought a new position in shares of Reliance during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.