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

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Reliance, Inc. (NYSE:RS) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund 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 owned about 0.24% of Reliance worth $34,732,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. First National Advisers LLC acquired a new position in Reliance during the 3rd quarter valued at approximately $1,948,000. Thrivent Financial for Lutherans increased its position in shares of Reliance by 31.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 29,964 shares of the industrial products company’s stock valued at $9,406,000 after acquiring an additional 7,146 shares during the period. SG Americas Securities LLC increased its position in shares of 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 acquiring an additional 11,064 shares during the period. JPMorgan Chase & Co. raised its stake in Reliance by 6.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 229,418 shares of the industrial products company’s stock worth $72,015,000 after acquiring an additional 13,268 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Reliance by 35.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 19,467 shares of the industrial products company’s stock worth $5,467,000 after acquiring an additional 5,144 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Ratings Changes

RS has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, December 5th. KeyCorp reiterated an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. BMO Capital Markets reduced their price target on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Reliance from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Reliance presently has an average rating of “Hold” and an average target price of $317.25.

Reliance Trading Up 0.5%

Shares of NYSE:RS opened at $329.71 on Monday. The company has a current ratio of 4.43, a quick ratio of 2.08 and a debt-to-equity ratio of 0.19. Reliance, Inc. has a 12-month low of $250.07 and a 12-month high of $347.43. The business has a 50 day moving average of $294.13 and a two-hundred day moving average of $291.49. The company has a market capitalization of $17.24 billion, a PE ratio of 24.10, a PEG ratio of 1.97 and a beta of 0.92.

Insiders Place Their Bets

In related news, COO Stephen Paul Koch sold 3,066 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were 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 in the company, valued at approximately $3,975,794.76. This trade represents a 17.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Karla R. Lewis sold 5,809 shares of Reliance stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 84,421 shares of the company’s stock, valued at $23,933,353.50. The trade was a 6.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.35% of the company’s stock.

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.