RS - Board Member Of Reliance Sold $12.92M In Stock | Benzinga
It was reported on February 28, that James Donald Hoffman, Board Member at Reliance (NYSE:RS) executed a significant insider sell, according to an SEC filing.
What Happened: After conducting a thorough analysis, Hoffman sold 40,000 shares of Reliance. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. The total transaction value is $12,917,867.
Reliance's shares are actively trading at $321.46, experiencing a down of 0.0% during Thursday's morning session.
Discovering Reliance: A Closer Look
Reliance Inc is a diversified metal solutions provider and the metals service center company. It provides value-added metals processing services and distributes.
A Deep Dive into Reliance's Financials
Revenue Growth: Reliance's revenue growth over a period of 3 months has faced challenges. As of 31 December, 2023, the company experienced a revenue decline of approximately -7.89%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Materials sector.
Exploring Profitability:
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Gross Margin: The company excels with a remarkable gross margin ...