JPMorgan Chase & Co. Cuts Reliance (NYSE:RS) Price Target to $340.00

Reliance (NYSE:RS) had its price target reduced by JPMorgan Chase & Co. from $345.00 to $340.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. BMO Capital Markets cut their price target on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Zacks Research downgraded Reliance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a research report on Monday, December 1st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $317.25.

Reliance Stock Down 0.9%

RS opened at $285.38 on Friday. The business has a 50 day moving average of $277.15 and a 200-day moving average of $293.51. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 1.81 and a beta of 0.92. The company has a current ratio of 4.43, a quick ratio of 2.08 and a debt-to-equity ratio of 0.19. Reliance has a 1-year low of $250.07 and a 1-year high of $347.43.

Reliance (NYSE:RS) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). Reliance had a return on equity of 10.37% and a net margin of 5.23%.The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm posted $3.64 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Reliance has set its Q4 2025 guidance at 2.650-2.85 EPS. As a group, sell-side analysts anticipate that Reliance will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, November 21st. Reliance’s dividend payout ratio (DPR) is 35.09%.

Insider Buying and Selling at Reliance

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of Reliance stock in a transaction on Monday, December 1st. The stock was 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 directly owned 14,021 shares of the company’s stock, valued at approximately $3,975,794.76. This trade represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karla R. Lewis sold 5,809 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $283.50, for a total transaction 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. The trade was a 6.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Reliance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RS. Private Trust Co. NA increased its holdings in shares of Reliance by 417.6% during the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock worth $28,000 after buying an additional 71 shares in the last quarter. Quarry LP bought a new stake in Reliance during the 3rd quarter worth approximately $32,000. Guerra Advisors Inc acquired a new stake in Reliance during the 3rd quarter valued at $34,000. Root Financial Partners LLC bought a new position in Reliance in the 3rd quarter valued at $38,000. Finally, Advisory Services Network LLC bought a new position in Reliance in the 3rd quarter valued at $39,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Company Profile

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.