Insider Selling: Reliance Steel & Aluminum CEO Unloads 25,000 Shares of Stock (RS)
Reliance Steel & Aluminum (NYSE:RS) CEO David H. Hannah unloaded 25,000 shares of the stock on the open market in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $70.16, for a total value of $1,754,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Reliance Steel & Aluminum (NYSE:RS) traded up 0.14% during mid-day trading on Wednesday, hitting $70.33. 382,796 shares of the company’s stock traded hands. Reliance Steel & Aluminum has a one year low of $65.50 and a one year high of $76.78. The stock has a 50-day moving average of $70.84 and a 200-day moving average of $71.28. The company has a market cap of $5.483 billion and a P/E ratio of 16.14.
Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.30 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.14 earnings per share. Reliance Steel & Aluminum’s revenue was up 6.9% compared to the same quarter last year. Analysts expect that Reliance Steel & Aluminum will post $5.03 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 1.99%. The ex-dividend date of this dividend is Wednesday, August 13th.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Reliance Steel & Aluminum in a research note on Monday, August 18th. They now have a $72.00 price target on the stock. 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Reliance Steel & Aluminum has a consensus rating of “Hold” and a consensus target price of $77.33.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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