Reliance (NYSE:RS) Price Target Raised to $398.00

Reliance (NYSE:RS) had its target price upped by Wells Fargo & Company from $372.00 to $398.00 in a research report released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other analysts have also weighed in on the company. Weiss Ratings raised Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Seaport Research Partners lifted their target price on Reliance from $340.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group began coverage on Reliance in a report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 price target for the company. Finally, BMO Capital Markets upped their price target on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $367.83.

Reliance Price Performance

Shares of RS stock opened at $408.04 on Thursday. The firm has a fifty day moving average of $386.93 and a two-hundred day moving average of $347.45. The firm has a market cap of $20.83 billion, a P/E ratio of 23.72, a P/E/G ratio of 1.26 and a beta of 0.97. Reliance has a 1-year low of $260.31 and a 1-year high of $419.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.24.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.47 by $0.80. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the business posted $4.43 EPS. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, research analysts anticipate that Reliance will post 19.84 earnings per share for the current fiscal year.

Reliance Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.2%. Reliance’s dividend payout ratio (DPR) is 29.07%.

Insider Transactions at Reliance

In related news, CFO Arthur Ajemyan sold 3,500 shares of the business’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 transaction of $1,253,420.00. Following the completion of the transaction, the chief financial officer owned 16,840 shares in the company, valued at $6,030,740.80. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reliance

A number of hedge funds have recently added to or reduced their stakes in RS. State Street Corp grew its position in shares of Reliance by 4.5% during the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock worth $784,503,000 after acquiring an additional 118,009 shares during the last quarter. Boston Partners lifted its position in Reliance by 27.5% in the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock valued at $631,224,000 after purchasing an additional 484,286 shares during the last quarter. Wellington Management Group LLP lifted its position in Reliance by 25.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock valued at $479,870,000 after purchasing an additional 343,598 shares during the last quarter. Geode Capital Management LLC boosted its stake in Reliance by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock valued at $270,349,000 after purchasing an additional 2,549 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Reliance by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 735,212 shares of the industrial products company’s stock valued at $212,390,000 after purchasing an additional 55,344 shares during the period. 79.26% of the stock is currently owned by institutional investors.

More Reliance News

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Reliance reported Q2 earnings per share of $6.27, ahead of estimates and above management’s prior guidance, while revenue rose 26.5% year over year to $4.63 billion. Article Title
• Positive Sentiment: The company said record quarterly tons sold, stronger customer activity, and firm pricing supported results, with the U.S. border wall project contributing more than expected to earnings. Article Title
• Positive Sentiment: Management issued upbeat Q3 guidance of $6.40 to $6.60 per share, signaling continued momentum after the strong quarter. Article Title
• Neutral Sentiment: Wells Fargo raised its price target on Reliance to $398 from $372 but kept an “equal weight” rating, suggesting improved expectations without a major change in stance. Article Title
• Neutral Sentiment: The company also announced a quarterly dividend of $1.25 per share, reinforcing shareholder returns but not changing the core operating story. Article Title

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.