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

Shares of Reliance, Inc. (NYSE:RSGet Free Report) have been given a consensus rating of “Hold” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $328.83.

Several equities analysts have commented on RS shares. KeyCorp dropped their target price on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday. They issued a “neutral” rating and a $341.00 price target for the company. Finally, BMO Capital Markets decreased their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th.

View Our Latest Analysis on Reliance

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark V. Kaminski sold 5,000 shares of the firm’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. Insiders sold 21,724 shares of company stock valued at $6,856,500 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Reliance by 4.5% in the third quarter. Franklin Resources Inc. now owns 112,065 shares of the industrial products company’s stock worth $32,909,000 after acquiring an additional 4,821 shares in the last quarter. Tidal Investments LLC boosted its holdings in Reliance by 10.3% in the third quarter. Tidal Investments LLC now owns 7,396 shares of the industrial products company’s stock worth $2,139,000 after acquiring an additional 691 shares in the last quarter. World Investment Advisors LLC bought a new position in Reliance in the third quarter worth approximately $4,600,000. Sanctuary Advisors LLC boosted its holdings in Reliance by 7.8% in the third quarter. Sanctuary Advisors LLC now owns 11,401 shares of the industrial products company’s stock worth $3,640,000 after acquiring an additional 827 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Reliance by 15.4% in the third quarter. TD Private Client Wealth LLC now owns 2,819 shares of the industrial products company’s stock worth $815,000 after acquiring an additional 376 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Reliance stock opened at $310.82 on Thursday. 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 $16.82 billion, a PE ratio of 17.07 and a beta of 0.87. Reliance has a 12 month low of $261.77 and a 12 month high of $342.20. The stock has a 50-day moving average price of $300.75 and a two-hundred day moving average price of $292.05.

Reliance (NYSE:RSGet Free Report) last posted its earnings results 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 firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. Reliance’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.00 earnings per share. Analysts expect that Reliance will post 16.42 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, November 22nd. This represents a $4.40 annualized dividend and a yield of 1.42%. Reliance’s dividend payout ratio is currently 24.16%.

Reliance Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for Reliance (NYSE:RS)

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