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

Shares of Reliance, Inc. (NYSE:RS) have earned an average rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $328.83.

A number of brokerages recently commented on RS. BMO Capital Markets decreased their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. KeyCorp lowered their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target for the company.

Insider Buying and Selling at Reliance

In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,724 shares of company stock worth $6,856,500 over the last three months. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Reliance

Hedge funds have recently made changes to their positions in the stock. Pure Financial Advisors LLC boosted its position in Reliance by 232.9% during the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after acquiring an additional 6,493 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after buying an additional 104 shares during the last quarter. HB Wealth Management LLC increased its holdings in Reliance by 52.8% during the 4th quarter. HB Wealth Management LLC now owns 1,209 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 418 shares in the last quarter. BTS Asset Management Inc. bought a new stake in Reliance during the fourth quarter worth $707,000. Finally, Occidental Asset Management LLC grew its stake in shares of Reliance by 5.8% in the 4th quarter. Occidental Asset Management LLC now owns 16,494 shares of the industrial products company’s stock worth $4,441,000 after acquiring an additional 898 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Stock Up 0.9 %

Shares of NYSE:RS opened at $284.41 on Friday. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The firm has a market cap of $15.39 billion, a P/E ratio of 15.62 and a beta of 0.91. The company’s 50-day moving average price is $293.56 and its two-hundred day moving average price is $289.88. Reliance has a 12 month low of $256.98 and a 12 month high of $342.20.

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

Reliance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, November 22nd. Reliance’s dividend payout ratio is currently 24.16%.

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.