Reliance, Inc. (NYSE:RS) Receives Average Rating of “Hold” from Analysts

Shares of Reliance, Inc. (NYSE:RS) have earned an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $326.40.

Several equities analysts have recently issued reports on the stock. KeyCorp decreased their price target on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 14th. BMO Capital Markets decreased their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th.

Reliance Stock Up 0.3 %

Shares of NYSE RS opened at $322.75 on Thursday. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $17.47 billion, a PE ratio of 17.72 and a beta of 0.85. The firm’s 50-day moving average is $297.02 and its 200-day moving average is $291.17. Reliance has a 1 year low of $261.77 and a 1 year high of $342.20.

Reliance (NYSE:RS) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company earned $5.00 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts expect that Reliance will post 16.42 EPS for the current year.

Reliance Dividend Announcement

The business also recently declared 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 is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.36%. Reliance’s dividend payout ratio is 24.16%.

Insider Transactions at Reliance

In other news, SVP William A. Smith II sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the sale, the senior vice president now directly owns 16,849 shares of the company’s stock, valued at $5,420,491.79. This trade represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 17,832 shares of company stock worth $5,595,881 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in Reliance in the 2nd quarter valued at $28,000. Quarry LP bought a new stake in shares of Reliance in the third quarter valued at about $41,000. UMB Bank n.a. grew its stake in shares of Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 53 shares in the last quarter. Brooklyn Investment Group bought a new position in Reliance during the third quarter worth about $78,000. Finally, National Bank of Canada FI raised its stake in Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

About Reliance

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.