Reliance, Inc. (NYSE:RS) Receives $326.40 Consensus Price Target from Analysts

Shares of Reliance, Inc. (NYSE:RS) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $326.40.

Several equities research analysts have weighed in on the stock. KeyCorp reduced their price target on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. BMO Capital Markets reduced their target price on 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 other news, Director Mark V. Kaminski sold 5,000 shares of the 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William A. Smith II sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value 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. This represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,832 shares of company stock valued at $5,595,881. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

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

Reliance Trading Down 0.4 %

NYSE RS opened at $321.24 on Thursday. Reliance has a 12 month low of $261.77 and a 12 month high of $342.20. The stock has a 50-day simple moving average of $299.47 and a 200 day simple moving average of $291.80. 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 company has a market capitalization of $17.39 billion, a PE ratio of 17.64 and a beta of 0.85.

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

Reliance Dividend Announcement

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