Lingohr Asset Management GmbH Boosts Position in Reliance, Inc. $RS

Lingohr Asset Management GmbH increased its holdings in Reliance, Inc. (NYSE:RS) by 1,291.4% during the third 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 buying an additional 16,065 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Reliance were worth $4,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA increased its position in Reliance by 417.6% in the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock worth $28,000 after buying an additional 71 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Reliance during the 3rd quarter valued at approximately $38,000. Allworth Financial LP grew its stake in shares of Reliance by 46.3% during the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 44 shares during the period. Caldwell Trust Co purchased a new stake in Reliance in the 2nd quarter worth approximately $58,000. Finally, Transamerica Financial Advisors LLC raised its stake in Reliance by 31.4% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 201 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 48 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Reliance

In related news, COO Stephen Paul Koch sold 3,066 shares of Reliance stock in a transaction dated 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 transaction, the chief operating officer owned 14,021 shares in the company, valued at $3,975,794.76. The trade was a 17.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Karla R. Lewis sold 5,809 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 84,421 shares of the company’s stock, valued at approximately $23,933,353.50. The trade was 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.

Analyst Upgrades and Downgrades

RS has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. Zacks Research cut Reliance from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a research report on Monday, December 29th. KeyCorp reiterated an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. decreased their target price on Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $317.25.

Reliance Trading Down 1.0%

RS opened at $328.81 on Friday. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $300.08 and its two-hundred day moving average is $291.96. The company has a market capitalization of $17.19 billion, a P/E ratio of 24.04, a PEG ratio of 1.98 and a beta of 0.92. Reliance, Inc. has a 52 week low of $250.07 and a 52 week high of $347.43.

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.