Reliance (NYSE:RS) Upgraded at Zacks Research

Reliance (NYSE:RS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wells Fargo & Company upped their price objective on Reliance from $372.00 to $398.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. dropped their target price on Reliance from $378.00 to $376.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. KeyCorp boosted 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. Wall Street Zen upgraded shares of Reliance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Citigroup reaffirmed a “neutral” rating on shares of Reliance in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Reliance has an average rating of “Hold” and an average target price of $378.67.

Reliance Stock Up 1.5%

Reliance stock opened at $415.72 on Monday. The company’s 50-day moving average price is $392.97 and its two-hundred day moving average price is $352.73. The company has a quick ratio of 2.27, a current ratio of 4.30 and a debt-to-equity ratio of 0.22. The stock has a market cap of $21.22 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.10 and a beta of 0.96. Reliance has a twelve month low of $260.31 and a twelve month high of $419.83.

Reliance (NYSE:RS) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $6.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.47 by $0.80. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Reliance had a return on equity of 12.51% and a net margin of 5.65%.The business’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.43 earnings per share. Reliance has set its Q3 2026 guidance at 6.400-6.600 EPS. As a group, analysts expect that Reliance will post 21.33 EPS for the current year.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 2,200 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total transaction of $902,242.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the senior vice president owned 19,394 shares of the company’s stock, valued at approximately $8,033,188.74. The trade was a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Reliance

A number of large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Reliance in the 4th quarter valued at about $207,691,000. Boston Partners lifted its holdings in shares of Reliance by 27.5% during the 3rd quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after acquiring an additional 484,286 shares during the period. Wellington Management Group LLP boosted its position in shares of Reliance by 25.2% during 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 in the last quarter. Corient Private Wealth LLC boosted its position in shares of Reliance by 1,019.0% during the 4th quarter. Corient Private Wealth LLC now owns 341,874 shares of the industrial products company’s stock worth $98,758,000 after acquiring an additional 311,323 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Reliance by 4,419.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 274,206 shares of the industrial products company’s stock valued at $79,210,000 after acquiring an additional 268,139 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

About Reliance

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.