Reliance Steel & Aluminum - RS Stock Forecast, Price & News

Reliance Steel & Aluminum Co. operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries. It also distributes non-ferrous metals products and tubular building products; and manufactures specialty extruded metals, fabricated parts, and welded components. As of December 31, 2021, the company operated a network of approximately 315 locations in 40 states in the United States and 13 in other countries. It sells its products directly to original equipment manufacturers, which primarily include small machine shops and fabricators. The company was founded in 1939 and is headquartered in Los Angeles, California.

Analyst Ratings Changes

A number of research firms have commented on RS. Wolfe Research upgraded shares of Reliance Steel & Aluminum from a "market perform" rating to an "outperform" rating and set a $226.00 price objective for the company in a report on Thursday, April 28th. KeyCorp dropped their price objective on shares of Reliance Steel & Aluminum from $215.00 to $207.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. BNP Paribas upgraded shares of Reliance Steel & Aluminum from a "neutral" rating to an "outperform" rating in a report on Thursday, April 14th. The Goldman Sachs Group lowered their price target on Reliance Steel & Aluminum from $234.00 to $218.00 in a report on Tuesday, July 12th. Finally, StockNews.com lowered shares of Reliance Steel & Aluminum from a "strong-buy" rating to a "buy" rating in a report on Friday, July 29th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Reliance Steel & Aluminum currently has a consensus rating of "Moderate Buy" and a consensus target price of $203.50.

Reliance Steel & Aluminum Trading Up 1.6 %

NYSE:RS traded up $3.13 on Friday, reaching $197.20. 207,358 shares of the company's stock were exchanged, compared to its average volume of 419,205. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 6.41 and a beta of 0.83. Reliance Steel & Aluminum has a 52-week low of $135.46 and a 52-week high of $211.65. The company has a quick ratio of 1.60, a current ratio of 3.02 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $179.90 and a 200-day moving average of $182.17.

Reliance Steel & Aluminum (NYSE:RS - Get Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $9.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.02 by $0.13. The company had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.61 billion. Reliance Steel & Aluminum had a net margin of 11.25% and a return on equity of 30.46%. The firm's quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the business earned $5.06 EPS. As a group, analysts expect that Reliance Steel & Aluminum will post 28.26 earnings per share for the current year.

Reliance Steel & Aluminum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be issued a dividend of $0.875 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $3.50 annualized dividend and a yield of 1.77%. Reliance Steel & Aluminum's dividend payout ratio (DPR) is 11.56%.

Insider Buying and Selling at Reliance Steel & Aluminum

In related news, CEO James Donald Hoffman sold 10,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $167.78, for a total value of $1,677,800.00. Following the completion of the transaction, the chief executive officer now owns 142,738 shares in the company, valued at $23,948,581.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.