Reliance (NYSE:RS) Price Target Lowered to $376.00 at JPMorgan Chase & Co.

Reliance (NYSE:RS) had its price target cut by JPMorgan Chase & Co. from $378.00 to $376.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research analysts have also issued reports on the company. Wall Street Zen raised Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. BMO Capital Markets raised their price target on Reliance from $320.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Wells Fargo & Company cut their price objective on shares of Reliance from $376.00 to $372.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Finally, Seaport Research Partners increased their price objective on shares of Reliance from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $363.50.

Reliance Stock Up 0.8%

NYSE:RS opened at $391.64 on Wednesday. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 1.20 and a beta of 0.97. Reliance has a twelve month low of $260.31 and a twelve month high of $419.83. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $383.33 and a 200-day simple moving average of $342.91.

Reliance (NYSE:RS) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.53. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the firm earned $3.77 earnings per share. Reliance’s revenue was up 15.1% compared to the same quarter last year. Reliance has set its Q2 2026 guidance at 5.150-5.350 EPS. Analysts anticipate that Reliance will post 19.24 EPS for the current year.

Reliance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Reliance’s dividend payout ratio (DPR) is currently 32.62%.

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 3,500 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the transaction, the chief financial officer directly owned 16,840 shares of the company’s stock, valued at approximately $6,030,740.80. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.40% of the company’s stock.

Institutional Trading of Reliance

A number of hedge funds and other institutional investors have recently modified their holdings of RS. Fulton Bank N.A. boosted its stake in Reliance by 4.9% during the second quarter. Fulton Bank N.A. now owns 3,124 shares of the industrial products company’s stock worth $1,167,000 after buying an additional 147 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Reliance in the 2nd quarter worth approximately $418,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Reliance by 542.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 9,766 shares of the industrial products company’s stock worth $3,649,000 after acquiring an additional 8,246 shares during the last quarter. Apella Capital LLC purchased a new position in shares of Reliance during the 2nd quarter worth approximately $640,000. Finally, Mirador Capital Partners LP acquired a new stake in Reliance in the 2nd quarter valued at approximately $364,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Company 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.