Reliance, Inc. $RS Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Reliance, Inc. (NYSE:RS) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,677 shares of the industrial products company’s stock after buying an additional 4,443 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Reliance were worth $34,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Reliance by 6.6% in the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after acquiring an additional 940 shares in the last quarter. Empowered Funds LLC grew its position in shares of Reliance by 4.8% in the first quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after purchasing an additional 258 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Reliance by 99.2% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 131 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Reliance by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,129 shares of the industrial products company’s stock worth $7,260,000 after purchasing an additional 462 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its position in shares of Reliance by 52.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,379 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insiders Place Their Bets

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

Reliance Price Performance

RS stock opened at $329.71 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08. The business has a 50 day simple moving average of $294.13 and a 200-day simple moving average of $291.49. The firm has a market capitalization of $17.24 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.97 and a beta of 0.92. Reliance, Inc. has a 1 year low of $250.07 and a 1 year high of $347.43.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RS. Weiss Ratings reiterated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. KeyCorp reaffirmed an “overweight” rating on shares of Reliance in a research note on Wednesday, January 7th. JPMorgan Chase & Co. dropped their price target on Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. BMO Capital Markets decreased their price objective on Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. Finally, Wells Fargo & Company lifted their target price 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. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Reliance currently has a consensus rating of “Hold” and a consensus target price of $317.25.

About Reliance

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.