Reliance (NYSE:RS) Price Target Raised to $355.00

Reliance (NYSE:RS) had its price objective lifted by Bank of America from $340.00 to $355.00 in a report published on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the industrial products company’s stock.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company raised their price objective on Reliance from $323.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. KeyCorp initiated coverage on Reliance in a report on Wednesday, March 25th. They set an “overweight” rating and a $341.00 target price for the company. JPMorgan Chase & Co. raised their price target on Reliance from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, BMO Capital Markets cut Reliance from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $340.00 to $320.00 in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Reliance has an average rating of “Hold” and a consensus price target of $331.83.

Reliance Trading Up 2.2%

Shares of RS opened at $352.13 on Thursday. Reliance has a fifty-two week low of $260.31 and a fifty-two week high of $365.59. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.31 and a beta of 0.88. The firm has a 50 day moving average price of $314.55 and a 200-day moving average price of $302.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.30 and a current ratio of 4.39.

Reliance (NYSE:RS) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.63 by $0.53. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.89 billion. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.77 EPS. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. As a group, equities research analysts forecast that Reliance will post 17.65 earnings per share for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 22nd. Reliance’s dividend payout ratio (DPR) is currently 32.62%.

Insider Transactions at Reliance

In related news, SVP William A. Smith II sold 6,615 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $298.61, for a total value of $1,975,305.15. Following the completion of the transaction, the senior vice president directly owned 21,747 shares of the company’s stock, valued at $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen Paul Koch sold 24,060 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $321.62, for a total transaction of $7,738,177.20. Following the completion of the sale, the chief operating officer owned 14,021 shares of the company’s stock, valued at $4,509,434.02. This trade represents a 63.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Reliance by 4.5% during the fourth quarter. State Street Corp now owns 2,715,764 shares of the industrial products company’s stock valued at $784,503,000 after purchasing an additional 118,009 shares in the last quarter. Boston Partners grew its stake in Reliance by 27.5% in the third quarter. Boston Partners now owns 2,247,603 shares of the industrial products company’s stock worth $631,224,000 after purchasing an additional 484,286 shares during the period. Wellington Management Group LLP raised its holdings in Reliance by 25.2% in the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after purchasing an additional 343,598 shares in the last quarter. Franklin Resources Inc. lifted its position in Reliance by 4.8% during the third quarter. Franklin Resources Inc. now owns 1,142,551 shares of the industrial products company’s stock valued at $320,863,000 after buying an additional 51,894 shares during the period. Finally, Geode Capital Management LLC lifted its position in Reliance by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 938,601 shares of the industrial products company’s stock valued at $270,349,000 after buying an additional 2,549 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance News Summary

Here are the key news stories impacting Reliance this week:

• Positive Sentiment: Q1 results topped expectations — EPS $5.16 vs. consensus $4.63 and revenue $4.03B vs. $3.89B; management said stronger pricing and broad demand across end markets drove the beat. This is the main catalyst lifting the stock. RS’ Q1 Earnings and Sales Surpass Estimates on Higher Prices
• Positive Sentiment: Q2 guidance raised — Reliance provided EPS guidance of $5.15–$5.35 for Q2 versus the prior consensus ~$5.00, implying continued price/mix strength into the next quarter (supports near-term earnings visibility). Reliance (RS) Q1 Earnings and Revenues Beat Estimates
• Positive Sentiment: Dividend declared — Reliance announced a $1.25 quarterly dividend (record May 22, payable June 5), returning cash to shareholders and supporting income-focused demand. (Yield ~1.4% annualized.)
• Neutral Sentiment: Analyst target updates — Bank of America raised its target to $355 (neutral rating) and JPMorgan raised its target to $345 (neutral). Both moves acknowledge earnings strength but keep a neutral stance, so they are unlikely to materially change sentiment alone. Benzinga TickerReport
• Neutral Sentiment: Transcripts and coverage available — The Q1 earnings and conference call transcripts are published (useful for detail on demand trends, pricing and margin outlook). Earnings Call Transcript Yahoo Markets
• Neutral Sentiment: Be aware of unrelated coverage — some headlines in the feed reference Reliance Industries (RIL), an unrelated Indian company; these items are not material to NYSE:RS. GoodReturns (RIL) FinancialExpress (RIL)

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.