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

Shares of Reliance, Inc. (NYSE:RS) have received an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $328.83.

A number of brokerages have commented on RS. The Goldman Sachs Group initiated coverage on Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. BMO Capital Markets decreased 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. Finally, KeyCorp dropped their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th.

Insider Activity at Reliance

In other news, SVP William A. Smith II sold 6,500 shares of the business’s stock in a transaction on 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 transaction, 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 27.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,724 shares of company stock valued at $6,856,500 over the last quarter. 0.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RS. Principal Financial Group Inc. grew its stake in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock worth $136,718,000 after buying an additional 77,937 shares during the last quarter. Franklin Resources Inc. increased its holdings in Reliance by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 112,065 shares of the industrial products company’s stock worth $32,909,000 after purchasing an additional 4,821 shares in the last quarter. Tidal Investments LLC raised its position in Reliance by 10.3% in the third quarter. Tidal Investments LLC now owns 7,396 shares of the industrial products company’s stock valued at $2,139,000 after purchasing an additional 691 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Reliance during the third quarter valued at about $4,600,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Reliance by 7.8% during the third quarter. Sanctuary Advisors LLC now owns 11,401 shares of the industrial products company’s stock worth $3,640,000 after purchasing an additional 827 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Performance

NYSE RS opened at $269.02 on Monday. The stock has a market cap of $14.56 billion, a PE ratio of 14.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The firm has a 50-day moving average of $302.36 and a 200-day moving average of $291.48. Reliance has a 52-week low of $256.98 and a 52-week high of $342.20.

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 firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $5.00 EPS. The company’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Reliance will post 16.42 EPS for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, November 22nd. Reliance’s dividend payout ratio (DPR) is currently 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.