Reliance, Inc. $RS Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings 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 period. JPMorgan Chase & Co.’s holdings in Reliance were worth $96,268,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Boston Partners boosted its position in Reliance by 72.6% during the second quarter. Boston Partners now owns 1,763,317 shares of the industrial products company’s stock worth $552,461,000 after acquiring an additional 741,417 shares during the last quarter. Norges Bank purchased a new stake in shares of Reliance in the second quarter valued at approximately $207,741,000. Alliancebernstein L.P. increased its holdings in shares of Reliance by 899.4% in the third quarter. Alliancebernstein L.P. now owns 733,528 shares of the industrial products company’s stock valued at $205,997,000 after purchasing an additional 660,128 shares during the last quarter. Wellington Management Group LLP boosted its stake in Reliance by 25.2% during the third quarter. Wellington Management Group LLP now owns 1,708,756 shares of the industrial products company’s stock worth $479,870,000 after buying an additional 343,598 shares during the last quarter. Finally, State Street Corp grew its holdings in Reliance by 6.8% in the 3rd quarter. State Street Corp now owns 2,597,755 shares of the industrial products company’s stock valued at $729,528,000 after buying an additional 166,214 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RS shares. KeyCorp reissued an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. Wells Fargo & Company raised their price objective on shares of Reliance from $315.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Zacks Research raised shares of Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. downgraded shares of Reliance from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $340.00 to $330.00 in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $324.33.

Insider Buying and Selling

In other news, COO Stephen Paul Koch sold 24,060 shares of Reliance stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $321.62, for a total value of $7,738,177.20. Following the completion of the sale, the chief operating officer directly owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. The trade was a 63.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William A. Smith II sold 6,615 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $298.61, for a total value of $1,975,305.15. Following the completion of the sale, the senior vice president owned 21,747 shares in the company, valued at $6,493,871.67. This represents a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.35% of the company’s stock.

Reliance Stock Performance

NYSE RS opened at $299.04 on Wednesday. The stock has a fifty day simple moving average of $323.49 and a 200-day simple moving average of $297.50. 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 stock has a market cap of $15.47 billion, a PE ratio of 21.41, a P/E/G ratio of 1.13 and a beta of 0.91. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $365.59.

Reliance (NYSE:RS) last posted its earnings results 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). The company 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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.22 EPS. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Equities analysts anticipate that Reliance, Inc. will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Reliance’s previous quarterly dividend of $1.20. Reliance’s dividend payout ratio is 35.79%.

Reliance 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.