Brokerages Set Reliance, Inc. (NYSE:RS) Price Target at $326.40

Reliance, Inc. (NYSE:RS) has received an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $326.40.

A number of equities analysts have weighed in on RS shares. KeyCorp decreased their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 14th. BMO Capital Markets reduced their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, October 25th.

Insider Buying and Selling at Reliance

In related news, CFO Arthur Ajemyan sold 6,332 shares of Reliance stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $318.18, for a total value of $2,014,715.76. Following the sale, the chief financial officer now directly owns 9,245 shares in the company, valued at approximately $2,941,574.10. The trade was a 40.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark V. Kaminski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,832 shares of company stock valued at $5,595,881. Company insiders own 0.69% of the company’s stock.

Institutional Trading of Reliance

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Reliance in the 2nd quarter valued at $28,000. Quarry LP purchased a new position in shares of Reliance in the third quarter worth about $41,000. UMB Bank n.a. boosted its position in Reliance by 27.0% during the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 53 shares during the last quarter. National Bank of Canada FI grew its stake in Reliance by 17.9% during the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 41 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Reliance in the 3rd quarter valued at about $78,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Trading Down 0.4 %

Shares of NYSE:RS opened at $321.24 on Thursday. The business has a 50-day moving average price of $299.47 and a 200-day moving average price of $291.80. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 17.64 and a beta of 0.85. Reliance has a 52-week low of $261.77 and a 52-week high of $342.20. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

Reliance (NYSE:RS) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.02). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.00 earnings per share. Equities analysts predict that Reliance will post 16.42 EPS for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.10 per share. The ex-dividend date is Friday, November 22nd. This represents a $4.40 dividend on an annualized basis and a yield of 1.37%. Reliance’s dividend payout ratio is currently 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.