Reliance, Inc. (NYSE:RS) Shareholders to Get $1.25 Quarterly Dividend

Reliance, Inc. (NYSE:RS) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Friday, November 20th will be given a dividend of $1.25 per share by the industrial products company on Friday, December 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 20th.

Reliance has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 15 years. Reliance has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Reliance to earn $23.69 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 21.1%.

Reliance Trading Up 0.0%

Shares of RS traded up $0.13 during trading hours on Thursday, reaching $421.20. 114,550 shares of the company traded hands, compared to its average volume of 340,215. The stock’s fifty day moving average price is $397.92 and its 200 day moving average price is $384.60. The company has a current ratio of 4.30, a quick ratio of 2.27 and a debt-to-equity ratio of 0.22. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 0.96 and a beta of 0.95. Reliance has a 12-month low of $260.31 and a 12-month high of $435.00.

Reliance (NYSE:RS) last posted its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.83 by $1.19. Reliance had a net margin of 5.65% and a return on equity of 12.51%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm posted $3.64 EPS. The firm’s revenue was up 42.8% compared to the same quarter last year. Sell-side analysts forecast that Reliance will post 23.70 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 2,200 shares of Reliance stock in a transaction on Friday, July 31st. The stock was sold at an average price of $410.11, for a total value of $902,242.00. Following the transaction, the chief financial officer directly owned 14,640 shares in the company, valued at approximately $6,004,010.40. This trade represents a 13.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William A. Smith II sold 2,353 shares of Reliance stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $414.21, for a total value of $974,636.13. Following the completion of the transaction, the senior vice president owned 19,394 shares in the company, valued at $8,033,188.74. This represents a 10.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reliance

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in Reliance by 1.7% in the first quarter. Parallel Advisors LLC now owns 1,908 shares of the industrial products company’s stock valued at $580,000 after purchasing an additional 31 shares during the last quarter. Greenleaf Trust lifted its position in shares of Reliance by 2.0% during the second quarter. Greenleaf Trust now owns 1,614 shares of the industrial products company’s stock valued at $603,000 after buying an additional 32 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Reliance by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 3,979 shares of the industrial products company’s stock valued at $1,209,000 after buying an additional 34 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Reliance by 4.8% in the 1st quarter. Kathmere Capital Management LLC now owns 824 shares of the industrial products company’s stock valued at $250,000 after buying an additional 38 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Reliance by 27.6% in the 1st quarter. Root Financial Partners LLC now owns 185 shares of the industrial products company’s stock valued at $56,000 after buying an additional 40 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

About Reliance

Reliance, Inc (NYSE: RS) is a diversified metals service center company that supplies processed metal products and related services to industrial manufacturers, fabricators, and other commercial customers. Its product offerings include carbon steel, stainless steel, aluminum, copper, brass, and other specialty metals.

The company provides value-added processing services such as cutting, slitting, leveling, blanking, machining, forming, and precision sawing. These services allow customers to purchase metals in customized sizes and specifications, helping reduce their need for in-house processing and inventory management.

Founded in 1939, Reliance serves a broad range of industries, including nonresidential construction, transportation, aerospace and defense, energy, electronics, machinery, and general manufacturing.