Mark V. Kaminski Sells 5,000 Shares of Reliance, Inc. (NYSE:RS) Stock

Reliance, Inc. (NYSE:RS) Director Mark V. Kaminski sold 5,000 shares of the stock in a transaction that occurred on 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 at this hyperlink.

Reliance Trading Down 1.1 %

Reliance stock opened at $286.34 on Friday. The company has a 50 day moving average price of $284.42 and a 200 day moving average price of $290.12. Reliance, Inc. has a 52 week low of $251.46 and a 52 week high of $342.20. 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 market capitalization of $15.75 billion, a price-to-earnings ratio of 15.72 and a beta of 0.85.

Reliance (NYSE:RS) last posted its quarterly earnings data 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 return on equity of 13.68% and a net margin of 7.42%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business posted $5.00 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts forecast that Reliance, Inc. will post 16.96 EPS for the current year.

Reliance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 22nd. Reliance’s dividend payout ratio is 24.16%.

Hedge Funds Weigh In On Reliance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Olympiad Research LP purchased a new stake in Reliance in the 3rd quarter worth approximately $285,000. Principal Financial Group Inc. lifted its position in Reliance by 19.7% in the 3rd 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 in the last quarter. Moloney Securities Asset Management LLC purchased a new stake in Reliance in the 3rd quarter worth approximately $1,025,000. BSW Wealth Partners lifted its position in Reliance by 24.3% in the 3rd quarter. BSW Wealth Partners now owns 1,793 shares of the industrial products company’s stock worth $519,000 after buying an additional 350 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Reliance by 113.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,666 shares of the industrial products company’s stock worth $2,217,000 after buying an additional 4,073 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the subject of a number of research reports. Wolfe Research cut shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price for the company. in a report on Friday, July 26th. KeyCorp reduced their target price on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, BMO Capital Markets reduced their target price on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $326.40.

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.