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

Reliance, Inc. (NYSE:RS) Director James Donald Hoffman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $289.81, for a total value of $1,449,050.00. Following the completion of the sale, the director now owns 49,042 shares of the company’s stock, valued at $14,212,862.02. The sale was disclosed in a document filed 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 shares were sold at an average price of $322.95, for a total transaction of $12,918,000.00.

Reliance Stock Performance

Shares of RS opened at $289.78 on Friday. The stock has a fifty day moving average price of $320.99 and a 200-day moving average price of $292.82. The company has a current ratio of 5.74, a quick ratio of 3.21 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a 12 month low of $229.12 and a 12 month high of $342.20. The firm has a market cap of $16.64 billion, a PE ratio of 13.53, a P/E/G ratio of 5.10 and a beta of 0.92.

Reliance (NYSE:RS) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm posted $6.37 EPS. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts predict that Reliance, Inc. will post 19.6 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.52%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RS. Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and lifted their target price for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. StockNews.com downgraded Reliance from a “buy” rating to a “hold” rating in a report on Friday, April 26th. KeyCorp increased their target price 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, BMO Capital Markets lowered their price target on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research report on Friday, April 26th.

Institutional Trading of Reliance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new position in Reliance in the first quarter valued at $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Reliance in the 1st quarter valued at about $30,000. Millburn Ridgefield Corp acquired a new position in Reliance in the 3rd quarter worth about $33,000. Catalyst Capital Advisors LLC purchased a new position in Reliance during the third quarter worth approximately $33,000. Finally, Rise Advisors LLC acquired a new stake in Reliance in the first quarter valued at approximately $49,000. 79.26% of the stock is owned by institutional investors and hedge funds.

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.