Reliance, Inc. (NYSE:RS) Given Consensus Rating of “Hold” by Analysts

Shares of Reliance, Inc. (NYSE:RS) have earned a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $326.40.

A number of equities research analysts have recently weighed in on the company. KeyCorp dropped their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Wolfe Research lowered Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a research report on Friday, July 26th.

Reliance Stock Up 0.3 %

NYSE:RS opened at $287.09 on Friday. Reliance has a twelve month low of $261.77 and a twelve month high of $342.20. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 15.77 and a beta of 0.85. The stock has a fifty day simple moving average of $284.66 and a 200-day simple moving average of $289.83. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.02). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.00 earnings per share. Analysts anticipate that Reliance will post 16.96 EPS for the current year.

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $4.40 annualized dividend and a dividend yield of 1.53%. Reliance’s dividend payout ratio (DPR) is currently 24.16%.

Insider Activity

In other news, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Reliance

Several institutional investors and hedge funds have recently modified their holdings of RS. Acadian Asset Management LLC raised its stake in Reliance by 20.8% during the first quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock valued at $358,270,000 after buying an additional 184,509 shares in the last quarter. Hsbc Holdings PLC raised its stake in Reliance by 78.5% during the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock valued at $82,816,000 after buying an additional 127,422 shares in the last quarter. International Assets Investment Management LLC raised its stake in Reliance by 27,269.0% during the third quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company’s stock valued at $32,453,000 after buying an additional 111,803 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock valued at $136,718,000 after purchasing an additional 77,937 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Reliance by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company’s stock valued at $333,809,000 after purchasing an additional 53,747 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.