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 business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $298.01, for a total value of $1,490,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Reliance Stock Performance

Shares of RS traded down $4.76 during mid-day trading on Wednesday, reaching $289.59. 147,651 shares of the company’s stock traded hands, compared to its average volume of 318,840. The business’s 50-day moving average price is $284.30 and its 200-day moving average price is $290.13. The stock has a market capitalization of $15.93 billion, a P/E ratio of 15.90 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. Reliance, Inc. has a 12 month low of $251.46 and a 12 month high of $342.20.

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 net margin of 7.42% and a return on equity of 13.68%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the business earned $5.00 EPS. Reliance’s revenue was down 5.6% compared to the same quarter last year. Equities analysts predict that Reliance, Inc. will post 16.96 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $1.10 dividend. The ex-dividend date is Friday, November 22nd. This represents a $4.40 annualized dividend and a yield of 1.52%. Reliance’s dividend payout ratio (DPR) is 24.16%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RS. State of Michigan Retirement System grew its position in Reliance by 2.1% in the first quarter. State of Michigan Retirement System now owns 14,897 shares of the industrial products company’s stock worth $4,978,000 after buying an additional 300 shares during the last quarter. Norden Group LLC purchased a new position in Reliance during the 1st quarter worth approximately $355,000. First Trust Direct Indexing L.P. grew its position in Reliance by 10.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,282 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 121 shares in the last quarter. BNP Paribas Financial Markets grew its position in Reliance by 94.4% during the 1st quarter. BNP Paribas Financial Markets now owns 53,539 shares of the industrial products company’s stock worth $17,892,000 after purchasing an additional 25,998 shares in the last quarter. Finally, Capstone Investment Advisors LLC grew its position in Reliance by 193.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 2,394 shares of the industrial products company’s stock worth $800,000 after purchasing an additional 1,577 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 topic of several recent analyst reports. Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price on the stock. in a research report on Friday, July 26th. KeyCorp lowered their price target on Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, BMO Capital Markets lowered their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Reliance has a consensus rating of “Hold” and an average 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.