BMO Capital Markets Issues Positive Forecast for Reliance (NYSE:RS) Stock Price

Reliance (NYSE:RS) had its target price boosted by BMO Capital Markets from $320.00 to $350.00 in a report published on Monday, Marketbeat Ratings reports. They currently have a market perform rating on the industrial products company’s stock.

Several other research analysts have also weighed in on RS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their target price on Reliance from $340.00 to $345.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group began coverage on Reliance in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $300.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on Reliance from $323.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $343.00.

Reliance Stock Up 2.6%

NYSE:RS opened at $360.98 on Monday. The firm has a market capitalization of $18.67 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 1.27 and a beta of 0.88. Reliance has a 1-year low of $260.31 and a 1-year high of $365.59. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average price is $314.90 and its 200 day moving average price is $303.36.

Reliance (NYSE:RS) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm posted $3.77 EPS. The business’s 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, sell-side analysts forecast that Reliance will post 17.84 earnings per share for the current fiscal year.

Reliance Dividend Announcement

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

Insider Activity

In other news, SVP William A. Smith II sold 6,615 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was 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 owned 21,747 shares in the company, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stephen Paul Koch sold 24,060 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the sale, the chief operating officer owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Reliance

Several large investors have recently made changes to their positions in the stock. HB Wealth Management LLC boosted its stake in shares of Reliance by 23.5% during the 1st quarter. HB Wealth Management LLC now owns 1,499 shares of the industrial products company’s stock worth $456,000 after acquiring an additional 285 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Reliance by 87,500.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 3,504 shares of the industrial products company’s stock worth $1,065,000 after acquiring an additional 3,500 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Reliance during the 1st quarter worth about $573,000. Root Financial Partners LLC boosted its stake in Reliance by 27.6% during the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 40 shares during the period. Finally, MQS Management LLC bought a new stake in Reliance during the 1st quarter valued at approximately $576,000. Institutional investors own 79.26% of the company’s stock.

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.