Reliance, Inc. (NYSE:RS) Director Sells $1,449,050.00 in Stock

Reliance, Inc. (NYSE:RS) Director James Donald Hoffman sold 5,000 shares of Reliance stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $289.81, for a total value of $1,449,050.00. Following the completion of the transaction, the director now owns 49,042 shares in the company, valued at approximately $14,212,862.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

James Donald Hoffman also recently made the following trade(s):

• On Tuesday, February 27th, James Donald Hoffman sold 40,000 shares of Reliance stock. The stock was sold at an average price of $322.95, for a total transaction of $12,918,000.00.

Reliance Stock Down 0.3 %

Reliance stock opened at $289.78 on Friday. The firm has a 50 day moving average price of $320.99 and a two-hundred day moving average price of $292.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74. Reliance, Inc. has a 52-week low of $229.12 and a 52-week high of $342.20. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 5.10 and a beta of 0.92.

Reliance (NYSE:RS) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.21). Reliance had a net margin of 8.67% and a return on equity of 16.26%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the firm earned $6.37 EPS. Reliance’s quarterly revenue was down 8.1% on a year-over-year basis. Equities analysts predict that Reliance, Inc. will post 19.6 EPS for the current year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $4.40 annualized dividend and a yield of 1.52%. Reliance’s dividend payout ratio is currently 20.55%.

Institutional Investors Weigh In On Reliance

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its position in shares of Reliance by 378.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,919 shares of the industrial products company’s stock worth $1,655,000 after purchasing an additional 4,682 shares in the last quarter. United Capital Management of KS Inc. grew its stake in Reliance by 0.8% in the third quarter. United Capital Management of KS Inc. now owns 26,668 shares of the industrial products company’s stock valued at $6,993,000 after acquiring an additional 219 shares during the period. Vest Financial LLC increased its holdings in shares of Reliance by 35.2% during the fourth quarter. Vest Financial LLC now owns 47,759 shares of the industrial products company’s stock valued at $13,357,000 after acquiring an additional 12,423 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Reliance by 15.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 210,218 shares of the industrial products company’s stock worth $55,125,000 after purchasing an additional 28,889 shares during the period. Finally, Comerica Bank bought a new position in shares of Reliance in the 3rd quarter worth $8,173,000. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets reduced their price objective on Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. StockNews.com cut shares of Reliance from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. KeyCorp lifted their price target on shares of Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Citigroup downgraded Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the company from $280.00 to $380.00 in a report on Thursday, April 11th.

Reliance Company Profile

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.