Reliance, Inc. (NYSE:RS) Plans $1.20 Quarterly Dividend

Reliance, Inc. (NYSE:RS - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, RTT News reports. Investors of record on Friday, August 15th will be given a dividend of 1.20 per share by the industrial products company on Friday, August 29th. This represents a $4.80 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, August 15th.

Reliance has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Reliance to earn $18.12 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 26.5%.

Reliance Price Performance

Shares of RS traded up $4.99 during midday trading on Friday, reaching $306.32. The stock had a trading volume of 761,037 shares, compared to its average volume of 411,145. The company's 50-day moving average is $313.48 and its 200 day moving average is $295.49. Reliance has a 12-month low of $250.07 and a 12-month high of $347.43. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

Reliance (NYSE:RS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $4.43 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.29). The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. Reliance had a net margin of 5.39% and a return on equity of 10.48%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $4.65 EPS. On average, equities analysts predict that Reliance will post 16.98 EPS for the current fiscal year.

Institutional Trading of Reliance

Several institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its stake in Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 131 shares during the last quarter. Empowered Funds LLC boosted its stake in Reliance by 4.8% during the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company's stock valued at $1,635,000 after purchasing an additional 258 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company's stock valued at $4,364,000 after purchasing an additional 940 shares during the last quarter. 79.26% of the stock is currently 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.