Reliance, Inc.'s (RS) shares touched a new 52-week high of $342.20 on Apr 8, before closing the session at $337.08.RS has a market capitalization of roughly $19.4 billion and carries a Zacks Rank #3 (Hold) at present.The company’s shares have rallied 37.1% over the past year, outperforming the 4.4% rise of its industry. Image Source: Zacks Investment Research What’s Driving RS?Reliance is benefiting from strong underlying demand in its major markets. It anticipates continued healthy demand trends in the fir ...

Reliance, Inc. (RS) has successfully acquired all outstanding equity interests of Mid-West Materials, Inc., a leading flat-rolled steel service center primarily catering to North American OEMs. Established in 1952 and headquartered in Perry, OH, MidWest Materials offers a diverse range of steel products, including hot-rolled, high-strength hot-rolled, coated and cold-rolled varieties. These products serve various industries, such as trailer manufacturing, agriculture, metal fabrication and building products ...

Core Insights - Reliance, Inc. has completed the acquisition of American Alloy Steel, Inc. effective April 1, 2024, enhancing its processing capabilities and product portfolio [1][2] - American Alloy reported annual net sales of approximately $310 million for the year ending December 31, 2023 [2] Company Overview - Reliance, Inc. is a leading global diversified metal solutions provider and the largest metals service center company in North America, with over 315 locations across 40 states and 12 countries [3] - The company distributes over 100,000 metal products to more than 125,000 customers, focusing on small orders with quick turnaround and value-added processing services [3] - In 2023, Reliance's average order size was $3,210, with approximately 51% of orders including value-added processing and about 40% delivered within 24 hours [3]

Group 1 - Reliance, Inc. has acquired Mid-West Materials, a flat-rolled steel service center, enhancing its presence in North American OEM markets [1][2] - Mid-West Materials reported annual net sales of approximately $87 million for the year ending December 31, 2023 [1] - The acquisition aligns with Reliance's strategy of acquiring well-run companies that are immediately accretive to earnings and expand customer offerings [2] Group 2 - Reliance, Inc. is the largest metals service center company in North America, with over 315 locations across 40 states and 12 countries [3] - The company distributes over 100,000 metal products to more than 125,000 customers, focusing on small orders with quick turnaround [3] - In 2023, approximately 51% of Reliance's orders included value-added processing, and about 40% were delivered within 24 hours [3]

Reliance, Inc.’s (RS) shares have popped 23.8% over the past six months. The company has also outperformed its industry’s decline of 3.2% over the same time frame. It has also topped the S&P 500’s roughly 15.9% rise over the same period.Let’s dive into the factors behind this Zacks Rank #3 (Hold) stock’s price appreciation. Image Source: Zacks Investment Research Strong Demand, Acquisitions Drive RelianceReliance is gaining from strong underlying demand in its major markets. It anticipates continued healthy ...

Reliance, Inc. (RS) is gaining from demand strength in its major end-use markets, a diversified product base and strategic acquisitions amid pricing headwinds.Shares of Reliance, a Zacks Rank #3 (Hold) stock, have gained 27.8% in the past year compared with 1.8% rise of the industry. Image Source: Zacks Investment Research Strong Demand, Acquisitions Aid RSReliance is benefiting from strong underlying demand in its major markets. Non-residential construction, Reliance's primary market, saw a notable improve ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Scottsdale, Arizona 85254 (Address of principal executive offices, including zip code) (480) 564-5700 (Registrant's telephone ...

Reliance, Inc.’s (RS) shares have gained 20.9% over the past three months. The company has also outperformed its industry’s rise of 15.2% over the same time frame. It has also topped the S&P 500’s roughly 11.6% rise over the same period.Let’s take a look into the factors that are driving this Zacks Rank #2 (Buy) stock. Image Source: Zacks Investment Research What’s Aiding RS?Forecast-topping earnings performance in the fourth quarter of 2023 and upbeat prospects have contributed to the gain in the company's ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

Core Viewpoint - Reliance Steel & Aluminum Co. has achieved all-time high share prices despite a decline in sales and earnings compared to an exceptionally strong 2022, indicating strong underlying business performance and resilience in a cyclical industry [2][4]. Company Overview - Reliance Steel is the largest metals service center in North America, operating over 300 locations across 40 states and 12 other countries, providing value-added metal services and distributing over 100,000 products [3]. - The company focuses on small orders averaging just over $3,000, catering to customers who cannot cost-effectively perform these services in-house, showcasing its niche market strength [3]. Current Financial Results - In 2023, revenues decreased by 13% to $14.8 billion, while tons sold increased by nearly 4% [4]. - Gross margins remained stable at approximately 30%, with adjusted operating profits down 28% to $1.74 billion and reported earnings down 27% to $1.34 billion [4]. - The final quarter of 2023 saw tons sold increase by 5%, with revenues down nearly 8% to $3.3 billion [5]. Financial Health and Shareholder Returns - The company reported a net debt of only $70 million at year-end, indicating a strong balance sheet [5]. - A quarterly dividend was increased by 10% to $1.10 per share, marking the 31st consecutive dividend increase since going public in 1994 [5]. - The company has provided a positive outlook for 2024, anticipating adjusted earnings of $5.40 per share for the first quarter [5]. Recent Developments - Reliance Steel has rebranded to reflect its broader service offerings beyond steel and aluminum [6]. - Recent acquisitions include Cooksey Iron & Metal, contributing approximately $90 million in revenue, and American Alloy Steel, adding $310 million in sales [6]. Valuation Insights - Following the earnings release, shares rose over 10% to $330, giving the company a $19.1 billion equity valuation [7]. - The company trades at 15 times the earnings of $22 per share for 2023, down from around $30 per share in 2022, with operating margins currently around 11-12% [7]. - Even with potential margin contraction, the company is expected to maintain strong profitability, suggesting that long-term prospects remain favorable despite current valuations [7].