Reliance (NYSE:RS) Sets New 12-Month High - Here's Why

Shares of Reliance, Inc. (NYSE:RS - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $373.77 and last traded at $372.1340, with a volume of 255911 shares traded. The stock had previously closed at $362.83.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RS shares. Bank of America cut shares of Reliance from a "neutral" rating to an "underperform" rating and set a $365.00 price objective for the company. in a research report on Thursday, April 30th. The Goldman Sachs Group started coverage on shares of Reliance in a research report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 price objective for the company. Weiss Ratings upgraded shares of Reliance from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Reliance from $340.00 to $345.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, KeyCorp upped their price objective on shares of Reliance from $341.00 to $378.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $344.67.

Reliance Stock Performance

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 company's 50-day simple moving average is $317.57 and its 200-day simple moving average is $305.90. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.14 and a beta of 0.95.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.53. Reliance had a net margin of 5.42% and a return on equity of 11.37%. The firm had revenue of $4.03 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the prior year, the company posted $3.77 EPS. The company's revenue was up 15.1% on a year-over-year basis. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. On average, analysts expect that Reliance, Inc. will post 18.7 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 22nd. Reliance's dividend payout ratio is currently 32.62%.

Insider Activity

In related news, COO Stephen Paul Koch sold 24,060 shares of the stock in a transaction on 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 transaction, the chief operating officer directly owned 14,021 shares of the company's stock, valued at $4,509,434.02. This represents a 63.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William A. Smith II sold 6,615 shares of the stock in a transaction on 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 transaction, the senior vice president directly owned 21,747 shares in the company, valued at approximately $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 34,175 shares of company stock valued at $10,966,902. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC bought a new position in Reliance during the fourth quarter worth $28,000. Costello Asset Management INC bought a new position in Reliance during the first quarter worth $30,000. Brown Brothers Harriman & Co. boosted its stake in Reliance by 86.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock worth $31,000 after acquiring an additional 50 shares in the last quarter. Greenline Wealth Management LLC bought a new position in Reliance during the fourth quarter worth $32,000. Finally, Quarry LP bought a new position in Reliance during the third quarter worth $32,000. 79.26% of the stock is owned by institutional investors.

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.

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