Reliance, Inc. (NYSE:RS) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Reliance, Inc. (NYSE:RS) by 7.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,942 shares of the industrial products company’s stock after buying an additional 942 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Reliance were worth $4,325,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Reliance in the 4th quarter valued at approximately $186,693,000. Acadian Asset Management LLC boosted its stake in Reliance by 20.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,072,200 shares of the industrial products company’s stock valued at $358,270,000 after acquiring an additional 184,509 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Reliance by 29.7% during the 4th quarter. Principal Financial Group Inc. now owns 286,847 shares of the industrial products company’s stock valued at $80,226,000 after acquiring an additional 65,691 shares during the last quarter. First Trust Advisors LP boosted its stake in Reliance by 7.9% during the 4th quarter. First Trust Advisors LP now owns 885,818 shares of the industrial products company’s stock valued at $247,746,000 after acquiring an additional 64,895 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Reliance by 51.2% during the 4th quarter. Schroder Investment Management Group now owns 177,771 shares of the industrial products company’s stock worth $49,719,000 after acquiring an additional 60,229 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RS. Citigroup lowered shares of Reliance from a “buy” rating to a “neutral” rating and upped their target price for the company from $280.00 to $380.00 in a research note on Thursday, April 11th. Bank of America cut their price objective on Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Wolfe Research lowered Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 target price for the company. in a research report on Friday. StockNews.com lowered Reliance from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, BMO Capital Markets decreased their price objective on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating for the company in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Reliance has a consensus rating of “Hold” and a consensus price target of $329.40.

Reliance Stock Up 5.0 %

Shares of Reliance stock opened at $308.56 on Friday. Reliance, Inc. has a twelve month low of $237.14 and a twelve month high of $342.20. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 14.41 and a beta of 0.86. The company has a current ratio of 5.74, a quick ratio of 3.21 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $291.32 and its 200-day simple moving average is $302.30.

Reliance (NYSE:RS) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). Reliance had a return on equity of 16.26% and a net margin of 8.67%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the company earned $6.49 earnings per share. Reliance’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts forecast that Reliance, Inc. will post 18.63 earnings per share for the current year.

Insider Buying and Selling

In other Reliance news, COO Stephen Paul Koch sold 20,421 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $295.38, for a total transaction of $6,031,954.98. Following the completion of the transaction, the chief operating officer now directly owns 7,552 shares of the company’s stock, valued at approximately $2,230,709.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director James Donald Hoffman sold 5,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $290.04, for a total value of $1,450,200.00. Following the completion of the transaction, the director now owns 44,042 shares of the company’s stock, valued at $12,773,941.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Stephen Paul Koch sold 20,421 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $295.38, for a total value of $6,031,954.98. Following the transaction, the chief operating officer now directly owns 7,552 shares in the company, valued at $2,230,709.76. The disclosure for this sale can be found here. Insiders have sold a total of 40,421 shares of company stock valued at $11,866,855 in the last quarter. Company insiders own 0.69% of the company’s stock.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.