KeyCorp Initiates Coverage on Reliance (NYSE:RS)

Equities research analysts at KeyCorp assumed coverage on shares of Reliance (NYSE:RS) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $341.00 price target on the industrial products company’s stock. KeyCorp’s price target would suggest a potential upside of 13.79% from the company’s previous close.

Several other research analysts have also weighed in on RS. Wells Fargo & Company increased their price objective on Reliance from $315.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded Reliance from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. BMO Capital Markets cut Reliance from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $340.00 to $320.00 in a report 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Reliance currently has an average rating of “Hold” and a consensus price target of $328.50.

Reliance Price Performance

Reliance stock opened at $299.66 on Wednesday. The company has a current ratio of 4.88, a quick ratio of 2.30 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $321.41 and a 200 day moving average price of $297.58. Reliance has a 12-month low of $250.07 and a 12-month high of $365.59. The stock has a market cap of $15.50 billion, a P/E ratio of 21.45, a PEG ratio of 1.13 and a beta of 0.91.

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

Insider Transactions at Reliance

In other Reliance news, SVP William A. Smith II sold 6,615 shares of the business’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 sale, the senior vice president directly owned 21,747 shares in the company, valued at $6,493,871.67. This represents a 23.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen Paul Koch sold 24,060 shares of the 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 sale, the chief operating officer directly owned 14,021 shares in the company, valued at $4,509,434.02. This represents a 63.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Reliance

Several large investors have recently added to or reduced their stakes in RS. Elevation Wealth Partners LLC purchased a new position in Reliance in the 4th quarter valued at approximately $28,000. Brown Brothers Harriman & Co. increased its position in shares of 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 during the period. Greenline Wealth Management LLC purchased a new stake in shares of Reliance during the fourth quarter worth $32,000. Quarry LP acquired a new stake in shares of Reliance in the third quarter valued at $32,000. Finally, Guerra Advisors Inc purchased a new position in Reliance in the third quarter valued at $34,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Company Profile

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.