Reliance, Inc. (NYSE:RS) Receives $379.83 Average PT from Analysts

Shares of Reliance, Inc. (NYSE:RS) have been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $379.8333.

A number of analysts have recently commented on RS shares. BMO Capital Markets upped their target price on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reliance in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Reliance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 31st. KeyCorp upped their target price on shares of Reliance from $378.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research note on Wednesday, July 29th.

Insider Activity at Reliance

In other news, SVP William A. Smith II sold 2,353 shares of the company’s stock in a transaction on 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 transaction, the senior vice president owned 19,394 shares in the company, valued at approximately $8,033,188.74. This represents a 10.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Arthur Ajemyan sold 2,200 shares of the firm’s 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 transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This represents a 13.06% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Reliance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. XXEC Inc. purchased a new stake in Reliance in the 2nd quarter worth approximately $127,493,000. BlackRock Inc. purchased a new stake in Reliance in the 2nd quarter valued at about $2,171,081,000. Norges Bank purchased a new position in shares of Reliance during the 4th quarter worth about $207,691,000. Bank of New York Mellon Corp acquired a new position in Reliance during the second quarter worth approximately $176,913,000. Finally, William Blair Investment Management LLC purchased a new position in Reliance during the second quarter worth approximately $142,900,000. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Price Performance

Shares of RS opened at $384.56 on Thursday. The company has a 50 day moving average of $400.55 and a two-hundred day moving average of $369.34. Reliance has a twelve month low of $260.31 and a twelve month high of $433.02. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 0.99 and a beta of 0.96. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22.

Reliance (NYSE:RS) last issued its quarterly 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. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the company earned $4.43 earnings per share. The company’s quarterly revenue 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, analysts predict that Reliance will post 22.53 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.3%. Reliance’s dividend payout ratio is 29.07%.

About Reliance

Reliance, Inc (NYSE: RS) is a diversified metals service center company that purchases, processes and distributes metals and related industrial products. Its product portfolio includes carbon steel, aluminum, stainless steel, copper, brass, titanium and other specialty metals.

The company provides value-added processing services such as cutting, leveling, sawing, machining, forming and preparing materials to customer specifications. These services help manufacturers and other commercial users reduce material-handling requirements and obtain metals in ready-to-use forms.

Founded in 1939 and headquartered in Los Angeles, California, Reliance serves customers through a network of operations primarily across North America, with additional international capabilities.