Reliance (NYSE:RS) Price Target Raised to $415.00

Reliance (NYSE:RS) had its price objective upped by BMO Capital Markets from $390.00 to $415.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a market perform rating on the industrial products company’s stock.

Several other brokerages have also issued reports on RS. Bank of America lowered Reliance from a “neutral” rating to an “underperform” rating and set a $365.00 price target on the stock. in a research note on Thursday, April 30th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. dropped their price objective on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Wells Fargo & Company upped their target price on shares of Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Seaport Research Partners raised their target price on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $378.67.

Reliance Stock Performance

RS stock opened at $403.09 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.30 and a quick ratio of 2.27. The company has a 50 day moving average price of $389.80 and a 200 day moving average price of $350.01. Reliance has a fifty-two week low of $260.31 and a fifty-two week high of $419.83. The stock has a market capitalization of $20.58 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97.

Reliance (NYSE:RS) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.80. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.43 EPS. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Analysts forecast that Reliance will post 19.84 EPS for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Reliance’s dividend payout ratio (DPR) is currently 29.07%.

Insider Activity

In related news, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $414.21, for a total transaction of $974,636.13. Following the completion of the sale, the senior vice president directly owned 19,394 shares of the company’s stock, valued at $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reliance

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in shares of Reliance by 1.7% during the 1st quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock worth $580,000 after buying an additional 31 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Reliance by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after acquiring an additional 34 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Reliance by 1.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,036 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 35 shares during the period. Kathmere Capital Management LLC raised its position in shares of Reliance by 4.9% in the 4th quarter. Kathmere Capital Management LLC now owns 786 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 37 shares during the period. Finally, Root Financial Partners LLC boosted its stake in Reliance by 27.6% during the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds 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.