Reliance, Inc. (NYSE:RS) Director Sells $1,490,050.00 in Stock

Reliance, Inc. (NYSE:RS) Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink.

Reliance Stock Performance

Reliance stock opened at $287.09 on Friday. Reliance, Inc. has a 1-year low of $261.77 and a 1-year high of $342.20. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $15.79 billion, a PE ratio of 15.77 and a beta of 0.85. The firm’s 50 day simple moving average is $284.57 and its 200 day simple moving average is $290.10.

Reliance (NYSE:RS) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 earnings per share (EPS) 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 quarter last year, the business posted $5.00 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Reliance, Inc. will post 16.96 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, November 22nd. Reliance’s payout ratio is 24.16%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Reliance by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,168,880 shares of the industrial products company’s stock worth $333,809,000 after buying an additional 53,747 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Reliance by 20.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock worth $358,270,000 after acquiring an additional 184,509 shares during the last quarter. Principal Financial Group Inc. grew its position in Reliance by 19.7% in the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock worth $136,718,000 after acquiring an additional 77,937 shares in the last quarter. Hsbc Holdings PLC increased its stake in Reliance by 78.5% in the second quarter. Hsbc Holdings PLC now owns 289,758 shares of the industrial products company’s stock valued at $82,816,000 after acquiring an additional 127,422 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Reliance by 21.1% during the second quarter. Victory Capital Management Inc. now owns 202,628 shares of the industrial products company’s stock valued at $57,871,000 after purchasing an additional 35,336 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RS has been the topic of a number of recent research reports. BMO Capital Markets dropped their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wolfe Research downgraded Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a research report on Friday, July 26th. Finally, KeyCorp cut their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $326.40.

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.