Reliance, Inc. (NYSE:RS) Plans Quarterly Dividend of $1.10

Reliance, Inc. (NYSE:RS - Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Investors of record on Friday, May 24th will be given a dividend of 1.10 per share by the industrial products company on Friday, June 7th. This represents a $4.40 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 23rd.

Reliance has raised its dividend payment by an average of 17.0% annually over the last three years and has raised its dividend every year for the last 14 years.

Reliance Stock Down 0.6 %

RS stock traded down $1.71 during mid-day trading on Friday, reaching $290.42. The company had a trading volume of 488,495 shares, compared to its average volume of 248,402. Reliance has a fifty-two week low of $229.12 and a fifty-two week high of $342.20. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 5.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.23 and a current ratio of 5.66. The firm has a fifty day simple moving average of $324.88 and a 200 day simple moving average of $291.41.

Reliance (NYSE:RS - Get Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.21). Reliance had a net margin of 9.02% and a return on equity of 17.53%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the business earned $6.37 EPS. The firm's revenue was down 8.1% compared to the same quarter last year. Analysts forecast that Reliance will post 19.51 earnings per share for the current fiscal year.

Insider Transactions at Reliance

In other Reliance news, CFO Arthur Ajemyan sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the completion of the sale, the chief financial officer now owns 15,577 shares in the company, valued at $5,030,592.15. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director James Donald Hoffman sold 40,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following the transaction, the director now owns 54,042 shares in the company, valued at approximately $17,452,863.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total value of $968,850.00. Following the sale, the chief financial officer now directly owns 15,577 shares of the company's stock, valued at $5,030,592.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,996 shares of company stock worth $27,603,878. Corporate insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RS. Citigroup cut Reliance from a "buy" rating to a "neutral" rating and raised their price target for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. StockNews.com lowered Reliance from a "buy" rating to a "hold" rating in a research report on Friday. BMO Capital Markets lowered their price target on Reliance from $355.00 to $345.00 and set an "outperform" rating for the company in a report on Friday. Finally, KeyCorp increased their price target on shares of Reliance from $300.00 to $362.00 and gave the company an "overweight" rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Reliance currently has an average rating of "Hold" and an average target price of $362.33.

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.