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

Shares of Reliance, Inc. (NYSE:RS - Get Free Report) have been given an average recommendation of "Hold" by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $329.17.

RS has been the subject of a number of recent analyst reports. Wolfe Research raised Reliance from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. KeyCorp increased their price target on Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Monday, December 2nd. They set a "neutral" rating and a $341.00 price objective on the stock.

Reliance Trading Up 1.9 %

Shares of RS traded up $5.39 on Friday, reaching $288.72. 379,892 shares of the company's stock were exchanged, compared to its average volume of 432,554. The business has a 50 day moving average price of $285.62 and a two-hundred day moving average price of $289.94. The company has a current ratio of 3.21, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. Reliance has a 12 month low of $256.98 and a 12 month high of $342.20. The stock has a market capitalization of $15.29 billion, a P/E ratio of 18.70 and a beta of 0.87.

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Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($0.52). The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.04 billion. Reliance had a return on equity of 11.87% and a net margin of 6.33%. Research analysts anticipate that Reliance will post 16.98 earnings per share for the current year.

Reliance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $1.20 per share. This is a positive change from Reliance's previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 7th. This represents a $4.80 annualized dividend and a dividend yield of 1.66%. Reliance's payout ratio is 31.09%.

Insider Transactions at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $300.52, for a total value of $9,356,990.72. Following the sale, the chief executive officer now directly owns 90,230 shares of the company's stock, valued at approximately $27,115,919.60. This represents a 25.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company's stock.

Hedge Funds Weigh In On Reliance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC boosted its stake in shares of Reliance by 4.1% during the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company's stock worth $253,000 after acquiring an additional 37 shares during the period. Johnson Investment Counsel Inc. boosted its position in Reliance by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company's stock worth $3,002,000 after purchasing an additional 39 shares during the period. Townsquare Capital LLC increased its holdings in shares of Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 40 shares during the last quarter. Forum Financial Management LP raised its position in shares of Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after purchasing an additional 44 shares during the period. Finally, Lido Advisors LLC lifted its stake in shares of Reliance by 4.9% during the 4th quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock worth $269,000 after buying an additional 47 shares during the last quarter. 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.