Reliance, Inc. (NYSE:RS) Director Sells $1,463,850.00 in Stock

Reliance, Inc. (NYSE:RS) Director James Donald Hoffman sold 5,000 shares of the firm’s 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 sale, 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 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 transaction of $1,450,200.00.
• 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 Stock Up 0.9 %

Shares of NYSE RS opened at $295.51 on Friday. 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 cap of $16.97 billion, a P/E ratio of 13.80, 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. The business has a 50-day simple moving average of $318.69 and a two-hundred day simple moving average of $293.75.

Reliance (NYSE:RS) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.21). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $6.37 earnings per share. Research analysts anticipate that Reliance, Inc. will post 19.6 earnings per share for the current fiscal year.

Reliance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a $1.10 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.49%. Reliance’s dividend payout ratio (DPR) is presently 20.55%.

Institutional Investors Weigh In On Reliance

Several large investors have recently added to or reduced their stakes in the business. Blair William & Co. IL purchased a new position in shares of Reliance in the first quarter worth about $300,000. Maple Capital Management Inc. purchased a new position in Reliance in the 1st quarter worth approximately $211,000. First Eagle Investment Management LLC bought a new stake in Reliance in the first quarter valued at approximately $211,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Reliance by 10.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 30,181 shares of the industrial products company’s stock valued at $10,086,000 after purchasing an additional 2,761 shares during the period. Finally, Dearborn Partners LLC grew its holdings in shares of Reliance by 9.7% in the first quarter. Dearborn Partners LLC now owns 103,204 shares of the industrial products company’s stock worth $34,489,000 after purchasing an additional 9,162 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on RS shares. StockNews.com raised Reliance from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp upped their price objective on shares of Reliance from $300.00 to $362.00 and gave the company an “overweight” rating in a report on Friday, February 16th. BMO Capital Markets reduced their target price 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. Finally, Citigroup cut shares of 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 note on Thursday, April 11th.

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.