RS - SVP Of Reliance Sold $968K In Stock | Benzinga
On March 6, a recent SEC filing unveiled that Arthur Ajemyan, SVP at Reliance (NYSE:RS) made an insider sell.
What Happened: Ajemyan's decision to sell 3,000 shares of Reliance was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. The total value of the sale is $968,850.
Reliance's shares are actively trading at $322.27, experiencing a up of 0.34% during Thursday's morning session.
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.
Breaking Down Reliance's Financial Performance
Negative Revenue Trend: Examining Reliance's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -7.57% in revenue growth, reflecting a decrease in 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.
Evaluating Earnings Performance:
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Gross Margin: The company maintains a high gross margin of 30.61%, indicating strong cost management ...