RS - Karla R Lewis Takes Money Off The Table Sells $13.72M In Reliance Stock | Benzinga
A substantial insider sell was reported on February 22, by Karla R Lewis, President at Reliance (NYSE:RS), based on the recent SEC filing.
What Happened: Lewis's recent move involves selling 42,996 shares of Reliance. This information is documented in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday. The total value is $13,717,062.
During Thursday's morning session, Reliance shares down by 0.0%, currently priced at $316.27.
Delving into Reliance's Background
Reliance Inc is a diversified metal solutions provider and the metals service center company. It provides value-added metals processing services and distributes.
Financial Milestones: Reliance's Journey
Decline in Revenue: Over the 3 months period, Reliance faced challenges, resulting in a decline of approximately -7.89% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Evaluating Earnings Performance:
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Gross Margin: With a high gross margin of 30.61%, the company demonstrates effective cost control and ...