Reliance (NYSE:RS) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Reliance (NYSE:RS) from a strong-buy rating to a buy rating in a research report released on Monday,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Reliance in a research note on Thursday, August 13th. Wells Fargo & Company dropped their price target on shares of Reliance from $398.00 to $391.00 and set an “equal weight” rating on the stock in a research note on Monday, August 24th. Citigroup restated a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. 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, BMO Capital Markets boosted their target price on Reliance from $390.00 to $415.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Reliance has a consensus rating of “Hold” and an average price target of $377.50.

Reliance Trading Up 2.6%

NYSE:RS opened at $400.38 on Monday. Reliance has a 12-month low of $260.31 and a 12-month high of $433.02. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $396.75 and its 200-day simple moving average is $363.04. The firm has a market cap of $20.44 billion, a P/E ratio of 23.28, a PEG ratio of 1.00 and a beta of 0.96.

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 firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period last year, the company earned $4.43 earnings per share. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. Equities analysts anticipate that Reliance will post 22.23 EPS for the current year.

Reliance Announces Dividend

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

Insider Transactions at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $410.11, for a total value of $902,242.00. Following the completion of the transaction, the chief financial officer owned 14,640 shares in the company, valued at $6,004,010.40. This trade represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were 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 owned 19,394 shares of the company’s stock, valued at $8,033,188.74. This trade represents a 10.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Reliance

A number of hedge funds and other institutional investors have recently modified their holdings of RS. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Reliance in the 2nd quarter worth approximately $24,886,000. California State Teachers Retirement System raised its holdings in Reliance by 20,857.7% during the second quarter. California State Teachers Retirement System now owns 32,965,343 shares of the industrial products company’s stock worth $12,315,852,000 after purchasing an additional 32,808,048 shares during the last quarter. HB Wealth Management LLC raised its holdings in Reliance by 23.7% during the second quarter. HB Wealth Management LLC now owns 1,854 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 355 shares during the last quarter. Saudi Central Bank boosted its position in Reliance by 85.4% during the second quarter. Saudi Central Bank now owns 3,578 shares of the industrial products company’s stock worth $1,337,000 after purchasing an additional 1,648 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new stake in Reliance during the second quarter worth $46,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Reliance

Here are the key news stories impacting Reliance this week:

• Neutral Sentiment: Reliance, Inc. said CEO Karla Lewis and COO Stephen Koch will participate in the Jefferies Global Industrials Conference in New York on September 9. The presentation could provide updates on demand, pricing, margins, acquisitions and the company’s outlook, but no new financial guidance or operational announcement was included. Reliance, Inc. Announces Participation at the 2026 Jefferies Global Industrials Conference
• Neutral Sentiment: Several articles report that Reliance Consumer Products has entered India’s ice-cream market with its Bombay Creamery brand, including products priced from Rs 10. This is a consumer-products expansion by the broader Reliance group, but it is not an announcement from U.S.-listed Reliance, Inc. (RS), so the direct impact on RS is unlikely to be material. Reliance Consumer Products enters the ice-cream market
• Neutral Sentiment: A separate report highlights a Reliance Jio prepaid plan offering 252GB of data, Netflix and Google Gemini Pro for 18 months. Jio is part of Reliance Industries in India, not Reliance, Inc. (RS), and therefore this news should not be treated as a catalyst for the U.S.-listed stock. Reliance Jio Rs 1,799 plan
• Neutral Sentiment: A Jefferies report discussing 33% upside from refinery disruptions applies to Reliance Industries, not Reliance, Inc. (RS). It should not be used to infer a valuation or earnings catalyst for RS. Reliance Industries Jefferies outlook

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.