Reliance (NYSE:RS) Sets New 1-Year High - Time to Buy?

Reliance, Inc. (NYSE:RS - Get Free Report)'s stock price hit a new 52-week high on Friday . The company traded as high as $334.48 and last traded at $334.22, with a volume of 179082 shares trading hands. The stock had previously closed at $330.63.

Reliance Stock Up 1.7%

The business has a 50-day simple moving average of $311.08 and a two-hundred day simple moving average of $293.94. The stock has a market capitalization of $17.68 billion, a P/E ratio of 24.10, a PEG ratio of 1.51 and a beta of 0.89. The company has a quick ratio of 1.58, a current ratio of 3.17 and a debt-to-equity ratio of 0.15.

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

Reliance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, May 23rd. Reliance's payout ratio is 34.41%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. TCTC Holdings LLC lifted its holdings in Reliance by 138.9% during the 1st quarter. TCTC Holdings LLC now owns 86 shares of the industrial products company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Reliance during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in Reliance during the 1st quarter worth approximately $30,000. Transamerica Financial Advisors LLC lifted its holdings in Reliance by 595.5% during the 1st quarter. Transamerica Financial Advisors LLC now owns 153 shares of the industrial products company's stock worth $45,000 after purchasing an additional 131 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in Reliance by 224.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 128 shares in the last quarter. 79.26% of the stock is currently owned by 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.