RS - James Donald Hoffman Executes Sell Order: Offloads $2.91M In Reliance Stock | Benzinga
James Donald Hoffman, Board Member at Reliance (NYSE:RS), disclosed an insider sell on May 7, according to a recent SEC filing.
What Happened: Hoffman's decision to sell 10,000 shares of Reliance was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday. The total value of the sale is $2,914,019.
During Wednesday's morning session, Reliance shares down by 0.0%, currently priced at $295.36.
Delving into Reliance's Background
Reliance Inc is a diversified metal solutions provider and metals service center company. It provides value-added metals processing services and distributes.
Reliance: Financial Performance Dissected
Decline in Revenue: Over the 3 months period, Reliance faced challenges, resulting in a decline of approximately -8.08% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Materials sector.
Profitability Metrics:
-
Gross Margin: The company sets a benchmark with a high gross margin of 30.95%, reflecting superior cost management and profitability compared to its peers.
-
Earnings ...