Morningstar Rating

Stock Research and Analysis

by Andrew Lane

Bulls Say

The company's management team is adept at finding and executing value-accretive acquisitions.
The company’s growth has improved its ability to procure large volumes of unfinished metals from metal producers.
The company’s business model relies heavily on just-in-time next-day delivery, which protects its shipment volumes from the impact of processed steel imports. Read more 

Bears Say

Nearly half of the company’s business is distribution-only, giving the company limited exposure to add value to its products and differentiate itself from its peers.
The company is highly dependent on steel mills that have the ability to drastically change selling prices at their own discretion, which can cause significant inventory devaluations.
Processing and distribution is a low-margin business that is perpetually squeezed by consolidation at metal suppliers and end markets. Read more 

Management

We assign an Exemplary stewardship rating to Reliance’s management team, as we believe that the company’s executives have distinguished themselves as particularly adept stewards of shareholder capital. CEO David Hannah has been with the company since   Read more 

Profile

Reliance Steel & Aluminum is the largest metal service center in the United States, providing metal processing and inventory management services for carbon and stainless   Read more 

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