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 business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $290.04, for a total value of $1,450,200.00. Following the transaction, the director now directly owns 44,042 shares in the company, valued at $12,773,941.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, May 7th, James Donald Hoffman sold 5,000 shares of Reliance stock. The stock was sold at an average price of $292.77, for a total transaction of $1,463,850.00.
• 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 transaction 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 transaction of $12,918,000.00.

Reliance Trading Down 0.9 %

Shares of RS stock opened at $292.81 on Thursday. The stock has a market cap of $16.82 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 5.08 and a beta of 0.92. Reliance, Inc. has a 1 year low of $229.12 and a 1 year high of $342.20. 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 50 day simple moving average of $319.19 and a 200 day simple moving average of $293.74.

Reliance (NYSE:RS) last announced its quarterly earnings data 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). 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%. Reliance’s revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $6.37 earnings per share. On average, research analysts predict that Reliance, Inc. will post 19.6 earnings per share for the current fiscal year.

Reliance Dividend Announcement

The company also recently disclosed 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 of this dividend is Thursday, May 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.50%. Reliance’s payout ratio is 20.55%.

Hedge Funds Weigh In On Reliance

Several hedge funds have recently bought and sold shares of RS. Sequoia Financial Advisors LLC boosted its stake in Reliance by 378.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,919 shares of the industrial products company’s stock valued at $1,655,000 after buying an additional 4,682 shares in the last quarter. United Capital Management of KS Inc. boosted its stake in shares of Reliance by 0.8% in the 3rd quarter. United Capital Management of KS Inc. now owns 26,668 shares of the industrial products company’s stock valued at $6,993,000 after purchasing an additional 219 shares in the last quarter. Vest Financial LLC grew its holdings in shares of Reliance by 35.2% during the 4th quarter. Vest Financial LLC now owns 47,759 shares of the industrial products company’s stock valued at $13,357,000 after purchasing an additional 12,423 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Reliance by 15.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 210,218 shares of the industrial products company’s stock worth $55,125,000 after purchasing an additional 28,889 shares in the last quarter. Finally, Comerica Bank bought a new position in Reliance in the 3rd quarter valued at approximately $8,173,000. 79.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a report on Friday, April 26th. StockNews.com upgraded Reliance from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup cut Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $280.00 to $380.00 in a research report on Thursday, April 11th. Finally, KeyCorp upped their price target 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.

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.