Reliance (NYSE:RS) Sets New 12-Month High - Time to Buy?

Reliance, Inc. (NYSE:RS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $327.12 and last traded at $326.61, with a volume of 18433 shares trading hands. The stock had previously closed at $325.44.

Reliance Price Performance

The company's 50 day moving average price is $304.04 and its 200-day moving average price is $290.01. The company has a market capitalization of $17.19 billion, a PE ratio of 23.44, a PEG ratio of 1.47 and a beta of 0.89. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15.

Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.11. Reliance had a net margin of 5.65% and a return on equity of 10.77%. The company had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.44 billion. During the same period in the previous year, the company earned $5.30 EPS. The business's quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a dividend of $1.20 per share. The ex-dividend date was Friday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.47%. Reliance's dividend payout ratio (DPR) is 34.41%.

Institutional Trading of Reliance

A number of institutional investors have recently added to or reduced their stakes in RS. Jones Financial Companies Lllp boosted its position in Reliance by 1,216.0% during the 4th quarter. Jones Financial Companies Lllp now owns 329 shares of the industrial products company's stock worth $89,000 after purchasing an additional 304 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Reliance by 13.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 651 shares of the industrial products company's stock valued at $175,000 after buying an additional 79 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Reliance by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,453 shares of the industrial products company's stock valued at $107,018,000 after buying an additional 2,921 shares during the last quarter. Keybank National Association OH boosted its position in Reliance by 8.7% in the 4th quarter. Keybank National Association OH now owns 1,703 shares of the industrial products company's stock valued at $459,000 after buying an additional 137 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Reliance by 11.1% in the 4th quarter. Victory Capital Management Inc. now owns 225,739 shares of the industrial products company's stock valued at $60,782,000 after buying an additional 22,583 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.