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

Shares of Reliance, Inc. (NYSE:RS) have been assigned an average recommendation of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $326.40.

RS has been the topic of a number of analyst reports. KeyCorp dropped their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report 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 report on Friday, October 25th. Finally, Wolfe Research downgraded Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target for the company. in a report on Friday, July 26th.

Insider Buying and Selling

In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Reliance news, SVP William A. Smith II sold 6,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the sale, the senior vice president now owns 16,849 shares of the company’s stock, valued at approximately $5,420,491.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the firm’s stock in a transaction dated 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 sold 17,832 shares of company stock valued at $5,595,881 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in Reliance during the third quarter valued at approximately $379,000. Intech Investment Management LLC raised its position in shares of Reliance by 255.4% during the 3rd quarter. Intech Investment Management LLC now owns 50,996 shares of the industrial products company’s stock valued at $14,749,000 after purchasing an additional 36,647 shares during the period. King Luther Capital Management Corp lifted its stake in shares of Reliance by 0.3% during the 3rd quarter. King Luther Capital Management Corp now owns 128,193 shares of the industrial products company’s stock valued at $37,075,000 after buying an additional 375 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Reliance by 5.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,593 shares of the industrial products company’s stock worth $5,088,000 after buying an additional 980 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Reliance in the 3rd quarter worth $4,186,000. 79.26% of the stock is currently owned by institutional investors.

Reliance Trading Down 0.1 %

NYSE RS opened at $320.62 on Friday. The firm has a market capitalization of $17.35 billion, a PE ratio of 17.61 and a beta of 0.85. The stock’s 50 day moving average is $287.35 and its 200 day moving average is $289.27. Reliance has a twelve month low of $261.77 and a twelve month high of $342.20. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS) last released its 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 return on equity of 13.68% and a net margin of 7.42%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the company earned $5.00 earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts forecast that Reliance will post 16.96 earnings per share for the current fiscal 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 dividend of $1.10 per share. The ex-dividend date is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.37%. Reliance’s dividend payout ratio is presently 24.16%.

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.