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

Reliance, Inc. (NYSE:RS) Director Mark V. Kaminski sold 5,000 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Reliance Stock Performance

NYSE:RS opened at $289.59 on Thursday. The firm has a market capitalization of $15.93 billion, a PE ratio of 15.90 and a beta of 0.85. Reliance, Inc. has a 1 year low of $251.46 and a 1 year high of $342.20. 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 firm’s fifty day simple moving average is $284.30 and its 200 day simple moving average is $290.13.

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 business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm posted $5.00 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Reliance, Inc. will post 16.96 EPS for the current year.

Reliance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued 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 dividend yield of 1.52%. Reliance’s dividend payout ratio (DPR) is presently 24.16%.

Institutional Investors Weigh In On Reliance

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Reliance during the 2nd quarter valued at $28,000. UMB Bank n.a. increased its holdings 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 purchasing an additional 53 shares during the period. National Bank of Canada FI raised its position in shares of Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock valued at $76,000 after buying an additional 41 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Reliance in the first quarter valued at about $86,000. Finally, International Assets Investment Management LLC acquired a new stake in Reliance during the second quarter worth about $117,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

RS has been the topic of a number of recent research reports. Wolfe Research downgraded shares of Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target on the stock. in a report on Friday, July 26th. BMO Capital Markets cut 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. Finally, KeyCorp decreased their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.