JPMorgan Chase & Co. Increases Position in Reliance, Inc. $RS

JPMorgan Chase & Co. lifted its position in Reliance, Inc. (NYSE:RS) by 49.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,796 shares of the industrial products company’s stock after acquiring an additional 113,378 shares during the period. JPMorgan Chase & Co. owned 0.66% of Reliance worth $96,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Reliance during the 3rd quarter valued at about $32,000. Guerra Advisors Inc purchased a new stake in Reliance in the third quarter valued at approximately $34,000. Root Financial Partners LLC acquired a new position in Reliance in the 3rd quarter worth approximately $38,000. Advisory Services Network LLC purchased a new position in Reliance during the 3rd quarter worth approximately $39,000. Finally, Allworth Financial LP lifted its stake in Reliance by 46.3% during the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of Reliance stock opened at $299.04 on Wednesday. The firm 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. The company has a quick ratio of 2.30, a current ratio of 4.88 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $323.49 and a 200 day moving average price of $297.50.

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 the consensus estimate of $2.80 by ($0.40). The business 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 firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.22 earnings per share. Reliance has set its Q1 2026 guidance at 4.500-4.70 EPS. Sell-side analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Increases Dividend

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

Analyst Upgrades and Downgrades

RS has been the subject of several recent research reports. BMO Capital Markets cut shares of Reliance from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $340.00 to $320.00 in a report on Friday, February 20th. Wall Street Zen lowered Reliance from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a research note on Monday, December 29th. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Reliance from $315.00 to $323.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $324.33.

Insider Activity

In other 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 completion of the sale, the senior vice president owned 21,747 shares of the company’s stock, valued at $6,493,871.67. The trade was a 23.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen Paul Koch sold 24,060 shares of the company’s 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 transaction, the chief operating officer owned 14,021 shares of the company’s stock, valued at approximately $4,509,434.02. This trade represents a 63.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is owned by company insiders.

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.