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 firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $292.77, for a total transaction of $1,463,850.00. Following the completion of the transaction, the director now owns 39,042 shares of the company’s stock, valued at approximately $11,430,326.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 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 Stock Down 0.9 %

RS stock opened at $292.81 on Thursday. The firm has a market capitalization of $16.82 billion, a PE ratio of 13.68, a P/E/G ratio of 5.08 and a beta of 0.92. The company has a quick ratio of 3.21, a current ratio of 5.74 and a debt-to-equity ratio of 0.14. Reliance, Inc. has a twelve month low of $229.12 and a twelve month high of $342.20. The stock’s 50 day moving average is $319.19 and its 200-day moving average is $293.74.

Reliance (NYSE:RS) last issued 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). Reliance had a net margin of 8.67% and a return on equity of 16.26%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the business posted $6.37 earnings per share. Reliance’s revenue was down 8.1% on a year-over-year basis. Sell-side analysts expect that Reliance, Inc. will post 19.6 EPS 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 $1.10 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $4.40 annualized dividend and a yield of 1.50%. Reliance’s dividend payout ratio (DPR) is 20.55%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Reliance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its position in Reliance by 113.0% in the third quarter. SG Americas Securities LLC now owns 1,706 shares of the industrial products company’s stock worth $447,000 after acquiring an additional 905 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Reliance by 46.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 10,057 shares of the industrial products company’s stock worth $2,637,000 after purchasing an additional 3,194 shares during the period. Mackenzie Financial Corp lifted its stake in Reliance by 14.6% in the third quarter. Mackenzie Financial Corp now owns 7,038 shares of the industrial products company’s stock valued at $1,796,000 after purchasing an additional 894 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Reliance by 10.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 320,077 shares of the industrial products company’s stock valued at $83,934,000 after purchasing an additional 31,205 shares during the period. Finally, Advisor Partners II LLC increased its position in Reliance by 47.5% in the third quarter. Advisor Partners II LLC now owns 2,985 shares of the industrial products company’s stock worth $783,000 after buying an additional 961 shares during the last quarter. 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.