3,147 Shares in Reliance, Inc. $RS Purchased by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan bought a new stake in Reliance, Inc. (NYSE:RS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,147 shares of the industrial products company’s stock, valued at approximately $873,000.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Reliance by 5.6% during the third quarter. Bessemer Group Inc. now owns 1,554 shares of the industrial products company’s stock worth $437,000 after buying an additional 83 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Reliance by 5.2% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,597 shares of the industrial products company’s stock worth $729,000 after acquiring an additional 128 shares during the period. Machina Capital S.A.S. raised its holdings in Reliance by 62.0% in the 3rd quarter. Machina Capital S.A.S. now owns 1,202 shares of the industrial products company’s stock valued at $338,000 after acquiring an additional 460 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Reliance by 40.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 547 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 158 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Reliance by 6.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 94,932 shares of the industrial products company’s stock worth $26,660,000 after purchasing an additional 5,889 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Reliance Trading Up 3.3%

NYSE RS opened at $353.71 on Monday. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 4.43. Reliance, Inc. has a one year low of $250.07 and a one year high of $354.38. The company’s 50 day moving average price is $306.42 and its 200 day moving average price is $291.65.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 5,809 shares of the company’s stock in a transaction dated 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 owned 84,421 shares of the company’s stock, valued at $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen Paul Koch sold 3,066 shares of the stock in a transaction dated Monday, December 1st. The shares were 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 owned 14,021 shares of the company’s stock, valued at approximately $3,975,794.76. This trade represents a 17.94% decrease in their position. The SEC filing for this sale provides additional information. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RS. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. KeyCorp restated an “overweight” rating on shares of Reliance in a report on Wednesday, January 7th. BMO Capital Markets dropped their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.25.

Reliance 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.