Reliance (NYSE:RS) Hits New 12-Month High – Here’s Why

Reliance, Inc. (NYSE:RS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $403.30 and last traded at $400.6770, with a volume of 35845 shares changing hands. The stock had previously closed at $396.26.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RS shares. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. JPMorgan Chase & Co. lifted their price objective on Reliance from $340.00 to $345.00 and gave the company a “neutral” rating in a report on Friday, April 24th. The Goldman Sachs Group started coverage on Reliance in a report on Wednesday, April 1st. They set a “neutral” rating and a $300.00 price objective for the company. KeyCorp lifted their price objective on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Seaport Research Partners lifted their price objective on Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Reliance currently has an average rating of “Hold” and a consensus target price of $352.33.

Reliance Stock Performance

The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The stock has a 50 day moving average price of $350.80 and a two-hundred day moving average price of $322.71.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $3.77 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, analysts predict that Reliance, Inc. will post 18.98 EPS for the current fiscal year.

Reliance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Reliance’s dividend payout ratio (DPR) is 32.62%.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 16,840 shares of the company’s stock, valued at $6,030,740.80. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Reliance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RS. Royal Bank of Canada increased its position in Reliance by 6.6% in the first quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after purchasing an additional 940 shares during the period. Empowered Funds LLC increased its position in Reliance by 4.8% in the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. increased its position in Reliance by 99.2% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares during the period. Walleye Capital LLC increased its position in Reliance by 2,192.5% in the second quarter. Walleye Capital LLC now owns 1,215 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 1,162 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Reliance in the second quarter worth about $1,318,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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.