The EVP & COO of Reliance Steel (NYSE: RS) is Selling Shares

By Carrie Williams

Yesterday, the EVP & COO of Reliance Steel (NYSE: RS), James Donald Hoffman, sold shares of RS for $461.5K.

Following James Donald Hoffman’s last RS Sell transaction on December 09, 2016, the stock climbed by 9.7%. In addition to James Donald Hoffman, 2 other RS executives reported Sell trades in the last month.

Based on Reliance Steel’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.38 billion and quarterly net profit of $301 million. In comparison, last year the company earned revenue of $2.06 billion and had a net profit of $61.7 million. The company has a one-year high of $95.97 and a one-year low of $68.46. RS’s market cap is $6.7B and the company has a P/E ratio of 11.08.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $98.2, reflecting a -6.0% downside. Three different firms, including Merrill Lynch and Longbow Research, currently also have a Sell rating on the stock.

The insider sentiment on Reliance Steel has been negative according to 38 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Reliance Steel & Aluminum Co. is a metals service center company. It engages in processing and distribution of metals. The company products include alloy steel, aluminum, brass and copper, carbon steel, stainless steel, and titanium.