Reliance, Inc. (NYSE:RS – Get Free Report) announced a quarterly dividend on Friday, April 17th. Stockholders of record on Friday, May 22nd will be paid a dividend of 1.25 per share by the industrial products company on Friday, June 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, May 22nd.
Reliance has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Reliance has a dividend payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Reliance to earn $20.42 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 24.5%.
Reliance Stock Performance
Shares of RS stock opened at $357.09 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.39 and a quick ratio of 2.24. The stock has a 50-day moving average of $327.79 and a 200-day moving average of $312.22. Reliance has a one year low of $260.31 and a one year high of $381.00. The stock has a market cap of $18.23 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.95.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Reliance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. BMO Capital Markets boosted their price objective on Reliance from $320.00 to $350.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Wall Street Zen upgraded Reliance from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Zacks Research upgraded Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, KeyCorp boosted their price objective on Reliance from $341.00 to $378.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Reliance currently has an average rating of “Hold” and a consensus price target of $344.67.
Check Out Our Latest Analysis on RS
Reliance Company Profile
Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.
Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.
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