Brokerages Set Reliance, Inc. (NYSE:RS) Price Target at $319.00

Reliance, Inc. (NYSE:RS - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $319.00.

Several analysts recently commented on the company. Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. KeyCorp upped their price objective on shares of Reliance from $321.00 to $327.00 and gave the company an "overweight" rating in a research note on Monday, February 24th.

Reliance Stock Performance

Reliance stock traded up $2.80 during midday trading on Friday, hitting $291.03. 12,676 shares of the company were exchanged, compared to its average volume of 439,467. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 3.21. Reliance has a fifty-two week low of $250.07 and a fifty-two week high of $326.87. The business has a fifty day simple moving average of $282.73 and a two-hundred day simple moving average of $289.52. The firm has a market capitalization of $15.39 billion, a PE ratio of 18.85 and a beta of 0.83.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. Reliance had a net margin of 6.33% and a return on equity of 11.87%. The firm had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. During the same quarter last year, the company earned $5.30 EPS. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Reliance will post 16.98 earnings per share for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $1.20 dividend. The ex-dividend date is Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.65%. Reliance's dividend payout ratio is currently 34.41%.

Insider Buying and Selling

In other Reliance news, CEO Karla R. Lewis sold 31,136 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $300.52, for a total transaction of $9,356,990.72. Following the transaction, the chief executive officer now directly owns 90,230 shares in the company, valued at $27,115,919.60. This represents a 25.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company's stock.

Institutional Trading of Reliance

Institutional investors have recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new position in Reliance in the first quarter valued at approximately $30,000. Coppell Advisory Solutions LLC grew its stake in Reliance by 224.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock worth $49,000 after buying an additional 128 shares during the last quarter. Versant Capital Management Inc lifted its stake in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company's stock valued at $58,000 after buying an additional 131 shares during the last quarter. Transce3nd LLC purchased a new stake in Reliance in the 4th quarter valued at $58,000. Finally, Quarry LP raised its holdings in shares of Reliance by 83.7% in the fourth quarter. Quarry LP now owns 259 shares of the industrial products company's stock valued at $70,000 after buying an additional 118 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

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.