Reliance, Inc. (NYSE:RS) Director Sells $1,450,200.00 in Stock

Reliance, Inc. (NYSE:RS - Get Free Report) Director James Donald Hoffman sold 5,000 shares of Reliance stock in a transaction on Friday, May 3rd. The shares were 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 approximately $12,773,941.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were 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 value 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 value of $12,918,000.00.

Reliance Trading Up 1.1 %

NYSE:RS traded up $3.25 during midday trading on Tuesday, reaching $295.41. 438,149 shares of the stock traded hands, compared to its average volume of 256,546. The stock has a market capitalization of $16.97 billion, a P/E ratio of 13.80, a PEG ratio of 5.08 and a beta of 0.92. 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 company has a fifty day moving average of $319.77 and a 200 day moving average of $293.74. Reliance, Inc. has a 12 month low of $229.12 and a 12 month high of $342.20.

Reliance (NYSE:RS - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.30 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.21). The firm had revenue of $3.64 billion for 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%. The business's revenue was down 8.1% on a year-over-year basis. During the same period last year, the company posted $6.37 earnings per share. On average, research analysts predict that Reliance, Inc. will post 19.6 EPS for the current year.

Reliance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders 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 is currently 20.55%.

Analysts Set New Price Targets

RS has been the topic of a number of research reports. KeyCorp raised their price target on Reliance from $300.00 to $362.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Citigroup downgraded Reliance from a "buy" rating to a "neutral" rating and raised their price target for the company from $280.00 to $380.00 in a research report on Thursday, April 11th. StockNews.com upgraded Reliance from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, BMO Capital Markets decreased their price objective on Reliance from $355.00 to $345.00 and set an "outperform" rating on the stock in a report on Friday, April 26th.

Institutional Investors Weigh In On Reliance

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Reliance by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 1,224,274 shares of the industrial products company's stock worth $342,405,000 after buying an additional 27,074 shares during the last quarter. First Trust Advisors LP grew its position in shares of Reliance by 7.9% in the 4th quarter. First Trust Advisors LP now owns 885,818 shares of the industrial products company's stock worth $247,746,000 after buying an additional 64,895 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Reliance by 35.4% in the 3rd quarter. Invesco Ltd. now owns 723,755 shares of the industrial products company's stock valued at $189,790,000 after purchasing an additional 189,326 shares during the period. Northern Trust Corp lifted its stake in shares of Reliance by 6.0% in the 3rd quarter. Northern Trust Corp now owns 675,801 shares of the industrial products company's stock valued at $177,215,000 after purchasing an additional 37,971 shares during the period. Finally, Norges Bank purchased a new position in shares of Reliance in the 4th quarter valued at approximately $186,693,000. 79.26% of the stock is currently owned by institutional investors.

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.