Koch Stephen Paul sold ~$10M in Reliance Steel & Aluminum Co. stock
Reliance Steel & Aluminum Co. (RS) · Exec. VP, COO · Data via SEC EDGAR Form 4
Price Performance · 10 days before → 90 days after trade
▲ = insider buy date
90-day return
+2.5%vs SPY +6.5%
Trade Details · Public SEC Filing
Insider
Koch Stephen Paul
Role
Exec. VP, COO
Transaction
Open-Market Sale
Approx. Value
~$10M
Trade Date
May 3, 2024
Company
Reliance Steel & Aluminum Co.
Ticker
RSSource
SEC EDGAR Form 4
Why This Trade Stands Out
Strong conviction signal
Scored above average across multiple factors. Roughly 15% of insider trades qualify as Strong.
~$10M sale
Trades over $1M are rare. When insiders put this much of their own money on the line, they tend to have high conviction in their company's direction.
Exec. VP, COO
Senior executives have visibility into their division's pipeline and company health. Their trades carry weight because they understand the business from the inside.
2 insiders traded in the same window
When multiple insiders independently buy within 30 days, it's called a cluster. Studies show clustered insider purchases outperform solo trades significantly, because several people with inside knowledge are reaching the same conclusion.
+2.5% in 90 days (S&P 500: +6.5%)
This trade underperformed the S&P 500 by 4.0 percentage points. Not every insider trade wins. We track all of them so you can focus on the insiders with the best records.
How good is Koch Stephen Paul at picking stocks?
Full track record: win rate, average return, and performance vs S&P 500
Koch Stephen Paul wasn't the only one selling.
2 insiders at Reliance Steel & Aluminum Co. traded within the same 30-day window.
See who else bought · FreeOn May 3, 2024, Koch Stephen Paul — Exec. VP, COO of Reliance Steel & Aluminum Co. — filed a Form 4 with the SEC disclosing an open-market sale of approximately ~$10M in Reliance Steel & Aluminum Co. (RS) stock.
This transaction was part of a cluster — 2 insiders at Reliance Steel & Aluminum Co. made open-market sales within the same 30-day window. Cluster activity from multiple independent insiders is one of the most studied patterns in insider trading research.
Under Section 16(a) of the Securities Exchange Act of 1934, corporate insiders must report all open-market stock transactions to the SEC within two business days. These filings — known as Form 4s — are publicly available on the SEC's EDGAR database. VeritySignals filters and scores the full Form 4 stream to surface high-conviction signals like this one.
In the 90 days following this trade, RS returned +2.5% versus +6.5% for the S&P 500 over the same period.
VeritySignals Conviction Analysis
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All data sourced from publicly available SEC Form 4 filings via EDGAR · Not financial advice · Past performance does not guarantee future results.
At a Glance
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How to Read Insider Trades
What is this?
When company executives buy or sell their own stock, they must report it to the SEC within 2 days. These public filings reveal what the people who know the company best are doing with their own money.
Why does it matter?
Insiders can sell for many reasons (taxes, diversification, expenses), but they generally only buy for one: they think the stock is going up. That's why insider purchases are more predictive than sales.
What makes a trade "strong"?
We score trades on 15+ factors: the insider's role (CEO > director), trade size relative to their salary, whether other insiders also bought (clusters), and historical accuracy of the insider.
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