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

Reliance, Inc. (NYSE:RS) has received a consensus rating of “Hold” from the five research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $329.40.

Several research analysts recently commented on RS shares. Bank of America reduced their target price on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. KeyCorp decreased their price objective on shares of Reliance from $341.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, July 3rd. Finally, Wolfe Research cut shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a report on Friday, July 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RS. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Reliance by 4.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company’s stock worth $253,000 after buying an additional 36 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Reliance by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 41 shares in the last quarter. National Bank of Canada FI boosted its holdings in Reliance by 17.9% in the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 41 shares during the period. Consolidated Planning Corp boosted its holdings in Reliance by 7.1% in the 2nd quarter. Consolidated Planning Corp now owns 752 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 50 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Reliance by 6.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 907 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Performance

Shares of Reliance stock opened at $277.11 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 12.94 and a beta of 0.85. The stock’s 50-day moving average is $287.16 and its 200-day moving average is $298.61. Reliance has a one year low of $237.14 and a one year high of $342.20.

Reliance (NYSE:RS) last released its earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.08). Reliance had a net margin of 7.99% and a return on equity of 14.73%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.49 EPS. Equities analysts predict that Reliance will post 17.21 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $1.10 per share. The ex-dividend date was Friday, August 16th. This represents a $4.40 dividend on an annualized basis and a yield of 1.59%. Reliance’s dividend payout ratio (DPR) is 20.55%.

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.