Reliance, Inc. $RS Shares Purchased by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH increased its position in shares of Reliance, Inc. (NYSE:RS) by 1,291.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,309 shares of the industrial products company’s stock after purchasing an additional 16,065 shares during the period. Lingohr Asset Management GmbH’s holdings in Reliance were worth $4,861,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. First National Advisers LLC purchased a new stake in Reliance during the third quarter worth approximately $1,948,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Reliance by 293.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 34,946 shares of the industrial products company’s stock valued at $9,814,000 after acquiring an additional 26,055 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Reliance by 31.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 29,964 shares of the industrial products company’s stock worth $9,406,000 after purchasing an additional 7,146 shares during the period. SG Americas Securities LLC increased its holdings in Reliance by 144.9% in the 3rd quarter. SG Americas Securities LLC now owns 18,700 shares of the industrial products company’s stock valued at $5,252,000 after purchasing an additional 11,064 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in Reliance in the third quarter valued at about $6,573,000. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Trading Down 1.0%

Reliance stock opened at $328.81 on Friday. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43. The firm’s 50-day moving average is $300.08 and its 200-day moving average is $291.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. The company has a market cap of $17.19 billion, a P/E ratio of 24.04, a PEG ratio of 1.98 and a beta of 0.92.

Insider Buying and Selling at Reliance

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of Reliance stock in a transaction on Monday, December 1st. The stock was sold at an average price of $283.56, for a total transaction of $869,394.96. Following the sale, the chief operating officer owned 14,021 shares of the company’s stock, valued at $3,975,794.76. The trade was a 17.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karla R. Lewis sold 5,809 shares of Reliance stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $283.50, for a total transaction of $1,646,851.50. Following the sale, the chief executive officer owned 84,421 shares in the company, valued at approximately $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, December 5th. KeyCorp reissued an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. BMO Capital Markets decreased their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Wells Fargo & Company lifted their price target on shares of Reliance from $284.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Reliance presently has an average rating of “Hold” and an average price target of $317.25.

Reliance Company Profile

Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.