Reliance (NYSE:RS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Reliance (NYSE:RS) from a buy rating to a strong-buy rating in a report published on Saturday,Wall Street Zen reports.

RS has been the topic of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a report on Thursday, August 13th. Zacks Research upgraded Reliance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Wells Fargo & Company dropped their price target on Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research report on Monday, August 24th. KeyCorp lifted their price objective on Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Reliance from $398.00 to $390.00 and set a “neutral” rating for the company in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Reliance currently has an average rating of “Hold” and a consensus target price of $380.33.

Reliance Stock Up 2.1%

Shares of NYSE RS opened at $408.86 on Friday. Reliance has a 52-week low of $260.31 and a 52-week high of $433.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.27 and a current ratio of 4.30. The stock has a market cap of $20.87 billion, a P/E ratio of 23.77, a P/E/G ratio of 0.98 and a beta of 0.95. The firm has a 50 day moving average price of $400.12 and a 200 day moving average price of $375.52.

Reliance (NYSE:RS) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.47 by $0.80. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.26 billion. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the business posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts expect that Reliance will post 23.23 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.2%. Reliance’s dividend payout ratio is presently 29.07%.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the sale, the chief financial officer owned 14,640 shares of the company’s stock, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William Smith, II sold 2,353 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the sale, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This trade represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Reliance

Several institutional investors have recently bought and sold shares of RS. BlackRock Inc. bought a new position in shares of Reliance during the 2nd quarter worth approximately $2,171,081,000. Bank of New York Mellon Corp bought a new stake in shares of Reliance in the second quarter worth $176,913,000. William Blair Investment Management LLC bought a new stake in shares of Reliance in the second quarter worth $142,900,000. Corient Private Wealth LP acquired a new position in Reliance during the second quarter worth $129,799,000. Finally, XXEC Inc. acquired a new position in Reliance during the second quarter worth $127,493,000. Institutional investors own 79.26% of the company’s stock.

Reliance Company Profile

Reliance, operating as Reliance Steel & Aluminum Co (NYSE: RS), is a diversified metals service center company. It distributes a broad range of metals, including carbon steel, stainless steel, aluminum, copper, brass, titanium and specialty steel products, serving manufacturers, fabricators, construction companies and other industrial customers.

The company provides value-added services designed to prepare metals for customer use. These services include cutting, leveling, slitting, sawing, machining, forming, coating, welding and other fabrication processes.