Reliance Steel & Aluminum VP Sells $31,413 in Stock (RS)
Reliance Steel & Aluminum (NYSE:RS) VP James Donald Hoffman sold 466 shares of the stock on the open market in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $67.41, for a total value of $31,413.06. Following the sale, the vice president now directly owns 12,709 shares of the company’s stock, valued at approximately $856,714. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Reliance Steel & Aluminum (NYSE:RS) traded up 1.76% during mid-day trading on Wednesday, hitting $68.80. 620,955 shares of the company’s stock traded hands. Reliance Steel & Aluminum has a 1-year low of $65.50 and a 1-year high of $76.78. The stock has a 50-day moving average of $72.68 and a 200-day moving average of $71.4. The company has a market cap of $5.364 billion and a P/E ratio of 15.54.
Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, July 24th. The company reported $1.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.40 by $0.10. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Reliance Steel & Aluminum will post $5.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 13th.
RS has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Reliance Steel & Aluminum from $74.00 to $76.00 in a research note on Monday, June 23rd. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Reliance Steel & Aluminum in a research note on Monday, May 19th. They now have a $76.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $78.00.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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