Reliance, Inc. (NYSE:RS) Director James Donald Hoffman Sells 5,000 Shares

Reliance, Inc. (NYSE:RS) Director James Donald Hoffman sold 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $292.77, for a total value of $1,463,850.00. Following the completion of the sale, the director now owns 39,042 shares of the company’s stock, valued at $11,430,326.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, May 3rd, James Donald Hoffman sold 5,000 shares of Reliance stock. The shares were sold at an average price of $290.04, for a total transaction of $1,450,200.00.
• On Tuesday, April 30th, James Donald Hoffman sold 5,000 shares of Reliance stock. The stock was sold at an average price of $289.81, for a total transaction of $1,449,050.00.
• 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 Performance

Shares of RS stock opened at $295.51 on Friday. Reliance, Inc. has a 52-week low of $229.12 and a 52-week high of $342.20. The company has a quick ratio of 3.21, a current ratio of 5.74 and a debt-to-equity ratio of 0.14. The stock has a market cap of $16.97 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 5.08 and a beta of 0.92. The business has a 50-day simple moving average of $318.69 and a 200-day simple moving average of $293.75.

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

Reliance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a dividend of $1.10 per share. The ex-dividend date is Thursday, May 23rd. This represents a $4.40 annualized dividend and a yield of 1.49%. Reliance’s dividend payout ratio is presently 20.55%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RS. Riverview Trust Co acquired a new stake in shares of Reliance during the 1st quarter valued at about $25,000. Contravisory Investment Management Inc. purchased a new position in Reliance during the first quarter worth approximately $30,000. Millburn Ridgefield Corp acquired a new stake in Reliance in the third quarter valued at approximately $33,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Reliance in the third quarter valued at approximately $33,000. Finally, Partnership Wealth Management LLC acquired a new position in shares of Reliance during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of research analyst reports. Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and raised their target price for the stock from $280.00 to $380.00 in a research note on Thursday, April 11th. BMO Capital Markets decreased their target price on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a report on Friday, April 26th. KeyCorp increased 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, StockNews.com upgraded shares of Reliance from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.