Reliance Steel & Aluminum CEO Unloads 9,907 Shares (RS)
Reliance Steel & Aluminum (NYSE:RS) CEO David H. Hannah sold 9,907 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $68.12, for a total value of $674,864.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Reliance Steel & Aluminum (NYSE:RS) traded down 0.13% on Thursday, hitting $68.59. The stock had a trading volume of 193,709 shares. Reliance Steel & Aluminum has a 52 week low of $65.50 and a 52 week high of $76.78. The stock has a 50-day moving average of $71.95 and a 200-day moving average of $71.24. The company has a market cap of $5.348 billion and a P/E ratio of 15.78.
Reliance Steel & Aluminum (NYSE:RS) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Reliance Steel & Aluminum will post $5.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders 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 2.04%. The ex-dividend date of this dividend is Wednesday, August 13th.
Separately, 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Reliance Steel & Aluminum currently has a consensus rating of “Hold” and a consensus target price of $78.40.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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