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 Reliance stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $289.81, for a total transaction of $1,449,050.00. Following the completion of the sale, the director now owns 49,042 shares in the company, valued at approximately $14,212,862.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Price Performance

NYSE:RS opened at $289.78 on Friday. Reliance, Inc. has a one year low of $229.12 and a one year high of $342.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.21 and a current ratio of 5.74. The stock has a market cap of $16.64 billion, a PE ratio of 13.53, a P/E/G ratio of 5.02 and a beta of 0.92. The stock has a 50 day moving average price of $320.99 and a 200 day moving average price of $292.61.

Reliance (NYSE:RS) last posted 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). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.76 billion. Reliance had a return on equity of 16.26% and a net margin of 8.67%. Reliance’s revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business earned $6.37 EPS. Equities research analysts expect that Reliance, Inc. will post 19.6 EPS for the current fiscal year.

Reliance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid 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 1.52%. Reliance’s dividend payout ratio (DPR) is 20.55%.

Institutional Investors Weigh In On Reliance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Astoria Portfolio Advisors LLC. increased its stake in Reliance by 4.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 778 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 36 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Reliance by 8.4% in the fourth quarter. Lindbrook Capital LLC now owns 480 shares of the industrial products company’s stock valued at $134,000 after buying an additional 37 shares in the last quarter. Rational Advisors LLC grew its stake in shares of Reliance by 33.6% in the first quarter. Rational Advisors LLC now owns 159 shares of the industrial products company’s stock valued at $53,000 after buying an additional 40 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Reliance by 4.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,023 shares of the industrial products company’s stock valued at $286,000 after buying an additional 41 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Reliance by 11.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 444 shares of the industrial products company’s stock valued at $116,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

RS has been the topic of several research analyst reports. StockNews.com lowered shares of Reliance from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets lowered their price target on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. KeyCorp upped their price objective on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and upped their price target for the company from $280.00 to $380.00 in a research report on Thursday, April 11th.

About Reliance

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.