Reliance (NYSE:RS) Now Covered by Analysts at KeyCorp

KeyCorp assumed coverage on shares of Reliance (NYSE:RS) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $341.00 price target on the industrial products company’s stock.

Several other equities analysts have also recently commented on RS. Wall Street Zen cut shares of Reliance from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. JPMorgan Chase & Co. downgraded shares of Reliance from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $340.00 to $330.00 in a report on Friday, February 20th. Wells Fargo & Company upped their price objective on shares of Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. BMO Capital Markets cut shares of Reliance from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $340.00 to $320.00 in a research note on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Reliance has an average rating of “Hold” and a consensus price target of $328.50.

Reliance Price Performance

Shares of NYSE:RS opened at $299.46 on Wednesday. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.14 and a beta of 0.91. The business has a 50 day moving average price of $321.87 and a 200 day moving average price of $297.56. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20. Reliance has a twelve month low of $250.07 and a twelve month high of $365.59.

Reliance (NYSE:RS) last issued its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.40). The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.45 billion. Reliance had a return on equity of 10.45% and a net margin of 5.17%.The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 earnings per share. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Research analysts predict that Reliance will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a $1.25 dividend. The ex-dividend date was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Reliance’s previous quarterly dividend of $1.20. Reliance’s dividend payout ratio is currently 35.79%.

Insider Transactions at Reliance

In other news, COO Stephen Paul Koch sold 24,060 shares of Reliance stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the sale, the chief operating officer directly owned 14,021 shares in the company, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William A. Smith II sold 6,615 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $298.61, for a total transaction of $1,975,305.15. Following the completion of the sale, the senior vice president directly owned 21,747 shares in the company, valued at approximately $6,493,871.67. The trade was a 23.32% decrease in their position. The SEC filing for this sale provides additional information. 0.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Reliance

A number of hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC bought a new position in Reliance during the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. boosted its position in Reliance by 86.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new stake in Reliance during the fourth quarter worth about $32,000. Quarry LP bought a new stake in Reliance during the third quarter worth about $32,000. Finally, Guerra Advisors Inc acquired a new stake in shares of Reliance during the third quarter worth approximately $34,000. 79.26% of the stock is 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.