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 firm’s stock in a transaction dated 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 sale, the director now directly owns 44,042 shares of the company’s stock, valued at $12,773,941.68. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

Reliance Trading Down 0.9 %

Shares of NYSE:RS opened at $292.81 on Thursday. 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’s 50-day moving average is $319.19 and its 200-day moving average is $293.74. The company has a market cap of $16.82 billion, a P/E ratio of 13.68, a P/E/G ratio of 5.08 and a beta of 0.92. Reliance, Inc. has a 52-week low of $229.12 and a 52-week high of $342.20.

Reliance (NYSE:RS) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.30 earnings per share (EPS) 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 business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the business earned $6.37 EPS. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts predict that Reliance, Inc. will post 19.6 earnings per share for the current year.

Reliance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, May 23rd. Reliance’s payout ratio is currently 20.55%.

Analysts Set New Price Targets

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

Institutional Trading of Reliance

A number of hedge funds have recently bought and sold shares of RS. Riverview Trust Co bought a new stake in shares of Reliance during the first quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new stake in Reliance in the 1st quarter valued at $30,000. Millburn Ridgefield Corp acquired a new position in shares of Reliance in the 3rd quarter valued at $33,000. Catalyst Capital Advisors LLC bought a new position in shares of Reliance during the 3rd quarter worth about $33,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of Reliance during the 4th quarter valued at about $43,000. 79.26% of the stock is owned by institutional investors.

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.