Reliance, Inc. (NYSE:RS) Given Average Rating of "Hold" by Analysts

Shares of Reliance, Inc. (NYSE:RS - Get Free Report) have received a consensus rating of "Hold" from the six brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to 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 topic of several recent research reports. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp boosted their price objective on shares of Reliance from $321.00 to $327.00 and gave the stock an "overweight" rating in a report on Monday, February 24th.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 31,136 shares of Reliance stock in a transaction that occurred on Monday, February 24th. The stock was 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 in the company, valued at approximately $27,115,919.60. This trade represents a 25.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

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Institutional Trading of Reliance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RS. Quarry LP purchased a new stake in shares of Reliance in the 3rd quarter worth about $41,000. Coppell Advisory Solutions LLC grew its holdings in shares of Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after acquiring an additional 128 shares during the period. Versant Capital Management Inc raised its position in shares of Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock worth $58,000 after acquiring an additional 131 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Reliance in the 4th quarter valued at approximately $58,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Reliance by 1,216.0% in the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

Reliance Price Performance

RS traded down $18.24 on Wednesday, reaching $275.66. The company had a trading volume of 409,213 shares, compared to its average volume of 390,392. Reliance has a 52-week low of $256.98 and a 52-week high of $342.20. The company has a market cap of $14.60 billion, a price-to-earnings ratio of 17.85 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. The business has a 50 day simple moving average of $288.88 and a 200 day simple moving average of $290.74.

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

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $1.20 per share. This is a positive change from Reliance's previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, March 7th. Reliance's dividend payout ratio is currently 31.09%.

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.