Healthcare of Ontario Pension Plan Trust Fund Purchases 942 Shares of Reliance, Inc. (NYSE:RS)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Reliance, Inc. (NYSE:RS) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,942 shares of the industrial products company’s stock after acquiring 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new position in shares of Reliance in the 1st quarter valued at approximately $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Reliance in the first quarter worth $30,000. Partnership Wealth Management LLC acquired a new stake in shares of Reliance during the fourth quarter worth $43,000. Rise Advisors LLC purchased a new stake in shares of Reliance during the first quarter valued at $49,000. Finally, Rational Advisors LLC increased its position in shares of Reliance by 33.6% in the 1st quarter. Rational Advisors LLC now owns 159 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 40 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Stephen Paul Koch sold 20,421 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $295.38, for a total value of $6,031,954.98. Following the completion of the sale, the chief operating officer now directly owns 7,552 shares in the company, valued at $2,230,709.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Stephen Paul Koch sold 20,421 shares of Reliance stock in a transaction dated 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 sale, the chief operating officer now owns 7,552 shares in the company, valued at $2,230,709.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Donald Hoffman sold 5,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $290.04, for a total transaction of $1,450,200.00. Following the transaction, the director now owns 44,042 shares of the company’s stock, valued at approximately $12,773,941.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,421 shares of company stock valued at $11,866,855. 0.69% of the stock is owned by company insiders.

Reliance Price Performance

Shares of NYSE RS opened at $308.56 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.74 and a quick ratio of 3.21. 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 firm’s 50 day simple moving average is $291.32 and its 200-day simple moving average is $302.30. Reliance, Inc. has a 12 month low of $237.14 and a 12 month high of $342.20.

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.08). The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Reliance had a net margin of 8.67% and a return on equity of 16.26%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.49 EPS. Analysts expect that Reliance, Inc. will post 18.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on RS shares. Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price target for the company. in a research report on Friday. StockNews.com downgraded Reliance from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. BMO Capital Markets cut their price target on shares of Reliance from $355.00 to $345.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Bank of America decreased their price objective on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Citigroup lowered shares of Reliance from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $280.00 to $380.00 in a research note on Thursday, April 11th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $329.40.

Reliance Profile

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.