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 stock in a transaction on 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 transaction, the director now directly owns 39,042 shares of the company’s stock, valued at $11,430,326.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 stock was 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 stock was sold at an average price of $322.95, for a total value of $12,918,000.00.

Reliance Trading Up 1.1 %

NYSE RS opened at $295.41 on Wednesday. The stock’s 50-day simple moving average is $319.77 and its two-hundred day simple moving average is $293.74. Reliance, Inc. has a twelve month low of $229.12 and a twelve month 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 company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 13.80, a PEG 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 for the quarter, missing analysts’ consensus estimates 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 business earned $6.37 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. Research analysts forecast that Reliance, Inc. will post 19.6 EPS for the current fiscal year.

Reliance Announces Dividend

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 1.49%. Reliance’s dividend payout ratio is currently 20.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RS shares. StockNews.com raised Reliance from a “hold” rating to a “buy” rating in a report on Tuesday. KeyCorp lifted their price objective on Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. Finally, BMO Capital Markets dropped their price objective on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a research note on Friday, April 26th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Riverview Trust Co purchased a new position in shares of Reliance in the first quarter worth about $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Reliance in the first quarter worth about $30,000. Millburn Ridgefield Corp purchased a new position in shares of Reliance in the third quarter worth about $33,000. Catalyst Capital Advisors LLC purchased a new position in shares of Reliance in the third quarter worth about $33,000. Finally, Partnership Wealth Management LLC purchased a new position in shares of Reliance in the fourth quarter worth about $43,000. Hedge funds and other institutional investors 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.