Reliance, Inc. $RS Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Reliance, Inc. (NYSE:RS) by 49.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 342,796 shares of the industrial products company’s stock after buying an additional 113,378 shares during the quarter. JPMorgan Chase & Co.’s holdings in Reliance were worth $96,268,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State of New Jersey Common Pension Fund D grew its holdings in shares of Reliance by 8.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,167 shares of the industrial products company’s stock valued at $5,383,000 after buying an additional 1,454 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Reliance by 1.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,578 shares of the industrial products company’s stock worth $3,252,000 after acquiring an additional 148 shares during the period. HighTower Advisors LLC grew its stake in Reliance by 1.2% during the 3rd quarter. HighTower Advisors LLC now owns 41,024 shares of the industrial products company’s stock valued at $11,521,000 after acquiring an additional 476 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Reliance by 18.8% in the 3rd quarter. Aberdeen Group plc now owns 1,308 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 207 shares during the period. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in shares of Reliance in the third quarter worth approximately $1,123,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

RS has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Reliance from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. cut shares of Reliance from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $340.00 to $330.00 in a report on Friday. BMO Capital Markets cut Reliance from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $340.00 to $320.00 in a research report on Friday. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Wells Fargo & Company lifted their price target on Reliance from $287.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Reliance has an average rating of “Hold” and an average target price of $321.67.

Reliance Price Performance

NYSE RS opened at $322.47 on Tuesday. Reliance, Inc. has a fifty-two week low of $250.07 and a fifty-two week high of $365.59. The stock’s 50-day moving average is $318.56 and its two-hundred day moving average is $295.41. The firm has a market cap of $16.86 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.88 and a quick ratio of 2.30.

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

Reliance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Reliance’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. Reliance’s dividend payout ratio is presently 35.79%.

Insiders Place Their Bets

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $283.56, for a total transaction of $869,394.96. Following the completion of the transaction, the chief operating officer owned 14,021 shares of the company’s stock, valued at $3,975,794.76. The trade was a 17.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Karla R. Lewis sold 5,809 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $283.50, for a total value of $1,646,851.50. Following the completion of the sale, the chief executive officer directly owned 84,421 shares in the company, valued at approximately $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.35% of the stock is currently owned by insiders.

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.