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

Reliance, Inc. (NYSE:RS - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $328.83.

A number of equities research analysts have issued reports on RS shares. The Goldman Sachs Group started coverage on shares of Reliance in a report on Monday, December 2nd. They set a "neutral" rating and a $341.00 target price on the stock. KeyCorp reduced their target price on shares of Reliance from $335.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, October 14th. Wolfe Research upgraded shares of Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets reduced their price objective on shares of Reliance from $340.00 to $330.00 and set an "outperform" rating on the stock in a report on Friday, October 25th.

Insider Buying and Selling

In related news, CFO Arthur Ajemyan sold 6,332 shares of Reliance stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the sale, the chief financial officer now directly owns 9,245 shares in the company, valued at $2,941,574.10. This trade represents a 40.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of Reliance stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total transaction of $1,490,050.00. The disclosure for this sale can be found here. Insiders have sold 21,724 shares of company stock worth $6,856,500 in the last ninety days. 0.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RS. Hsbc Holdings PLC grew its position in Reliance by 78.5% during the 2nd quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company's stock worth $82,816,000 after purchasing an additional 127,422 shares during the last quarter. International Assets Investment Management LLC grew its position in Reliance by 27,269.0% during the 3rd quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company's stock worth $32,453,000 after purchasing an additional 111,803 shares during the last quarter. Principal Financial Group Inc. grew its position in Reliance by 19.7% during the 3rd quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company's stock worth $136,718,000 after purchasing an additional 77,937 shares during the last quarter. KBC Group NV grew its position in Reliance by 68.8% during the 3rd quarter. KBC Group NV now owns 139,660 shares of the industrial products company's stock worth $40,391,000 after purchasing an additional 56,933 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in Reliance during the 3rd quarter worth $12,389,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Trading Up 1.5 %

Shares of NYSE:RS traded up $4.30 during mid-day trading on Friday, reaching $288.58. 499,632 shares of the company were exchanged, compared to its average volume of 449,557. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 15.85 and a beta of 0.91. The firm's 50-day simple moving average is $293.56 and its 200 day simple moving average is $289.88. Reliance has a 1 year low of $256.98 and a 1 year high of $342.20.

Reliance (NYSE:RS - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $5.00 EPS. Equities research analysts forecast that Reliance will post 16.42 EPS for the current year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.52%. Reliance's payout ratio is 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.