Reliance, Inc. (NYSE:RS) SVP William A. Smith II Sells 6,500 Shares

Reliance, Inc. (NYSE:RS) SVP William A. Smith II sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the completion of the transaction, the senior vice president now owns 16,849 shares in the company, valued at $5,420,491.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Reliance Stock Performance

RS stock opened at $321.05 on Friday. The stock’s 50 day simple moving average is $286.67 and its 200 day simple moving average is $289.44. The stock has a market capitalization of $17.38 billion, a PE ratio of 17.63 and a beta of 0.85. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. Reliance, Inc. has a 12-month low of $261.77 and a 12-month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company earned $5.00 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Reliance, Inc. will post 16.96 earnings per share for the current fiscal year.

Reliance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 22nd. Reliance’s payout ratio is currently 24.16%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RS shares. Wolfe Research downgraded Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price for the company. in a research report on Friday, July 26th. KeyCorp dropped their price objective on Reliance from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, BMO Capital Markets dropped their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and an average price target of $326.40.

Institutional Trading of Reliance

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Reliance during the second quarter worth approximately $28,000. UMB Bank n.a. increased its position in shares of Reliance by 27.0% during the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 53 shares during the period. National Bank of Canada FI increased its position in shares of Reliance by 17.9% during the second quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 41 shares during the period. Headlands Technologies LLC purchased a new position in shares of Reliance during the first quarter worth approximately $86,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Reliance during the second quarter worth approximately $117,000. Institutional investors own 79.26% of the company’s stock.

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.