Wells Fargo & Company Issues Positive Forecast for Reliance (NYSE:RS) Stock Price

Reliance (NYSE:RS) had its target price increased by Wells Fargo & Company from $284.00 to $287.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities analysts also recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reduced their price objective on Reliance from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Reliance in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $323.00.

Reliance Stock Down 1.3%

NYSE RS traded down $3.63 during trading on Friday, reaching $269.82. 319,338 shares of the company’s stock were exchanged, compared to its average volume of 386,206. The company has a 50 day moving average price of $280.67 and a two-hundred day moving average price of $295.69. The stock has a market cap of $14.11 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. Reliance has a 1 year low of $250.07 and a 1 year high of $347.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.54 billion. Reliance had a return on equity of 10.37% and a net margin of 5.23%.Reliance’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $3.64 EPS. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. On average, equities research analysts anticipate that Reliance will post 16.98 EPS for the current fiscal year.

Reliance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, November 21st. Reliance’s payout ratio is currently 35.09%.

Institutional Trading of Reliance

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners lifted its stake in Reliance by 72.6% during the second quarter. Boston Partners now owns 1,763,317 shares of the industrial products company’s stock valued at $552,461,000 after purchasing an additional 741,417 shares during the last quarter. Norges Bank bought a new stake in shares of Reliance during the 2nd quarter worth $207,741,000. Nuveen LLC bought a new stake in shares of Reliance during the 1st quarter worth $144,089,000. Wellington Management Group LLP grew its holdings in shares of 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 worth $479,870,000 after acquiring an additional 343,598 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Reliance during the second quarter valued at $72,373,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.