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 business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $292.77, for a total transaction of $1,463,850.00. Following the sale, the director now directly owns 39,042 shares in the company, valued at $11,430,326.34. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 stock was sold at an average price of $290.04, for a total value of $1,450,200.00.
• On Tuesday, April 30th, James Donald Hoffman sold 5,000 shares of Reliance stock. The shares were sold at an average price of $289.81, for a total value of $1,449,050.00.
• 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 value of $12,918,000.00.

Reliance Stock Performance

RS stock traded up $3.20 during mid-day trading on Tuesday, hitting $295.36. 438,149 shares of the company were exchanged, compared to its average volume of 256,546. Reliance, Inc. has a 1-year low of $229.12 and a 1-year high of $342.20. The business has a 50 day simple moving average of $320.32 and a 200-day simple moving average of $293.39. The company has a current ratio of 5.74, a quick ratio of 3.21 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $16.96 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 5.08 and a beta of 0.92.

Reliance (NYSE:RS) last released its quarterly 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 the consensus estimate of $3.76 billion. During the same quarter last year, the firm earned $6.37 earnings per share. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities analysts forecast that Reliance, Inc. will post 19.6 earnings per share for the current year.

Reliance Announces Dividend

The firm 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. This represents a $4.40 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance’s dividend payout ratio is 20.55%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RS. Citigroup cut shares of Reliance from a “buy” rating to a “neutral” rating and increased their price target for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. BMO Capital Markets lowered their price target 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 Reliance from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, KeyCorp raised their price target on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th.

Institutional Trading of Reliance

Several hedge funds and other institutional investors have recently bought and sold shares of RS. Wellington Management Group LLP increased its holdings in shares of Reliance by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 1,224,274 shares of the industrial products company’s stock worth $342,405,000 after purchasing an additional 27,074 shares during the period. First Trust Advisors LP raised its holdings in Reliance by 7.9% in the 4th quarter. First Trust Advisors LP now owns 885,818 shares of the industrial products company’s stock valued at $247,746,000 after acquiring an additional 64,895 shares in the last quarter. Invesco Ltd. lifted its position in shares of Reliance by 35.4% during the 3rd quarter. Invesco Ltd. now owns 723,755 shares of the industrial products company’s stock valued at $189,790,000 after acquiring an additional 189,326 shares during the period. Northern Trust Corp grew its holdings in shares of Reliance by 6.0% during the 3rd quarter. Northern Trust Corp now owns 675,801 shares of the industrial products company’s stock worth $177,215,000 after purchasing an additional 37,971 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Reliance in the fourth quarter worth $186,693,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

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.