Pacer Advisors Inc. Acquires 803,730 Shares of Reliance, Inc. (NYSE:RS)

Pacer Advisors Inc. raised its holdings in Reliance, Inc. (NYSE:RS) by 6,311.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 816,465 shares of the industrial products company’s stock after purchasing an additional 803,730 shares during the quarter. Pacer Advisors Inc. owned approximately 1.51% of Reliance worth $219,841,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Reliance in the 3rd quarter valued at $41,000. Versant Capital Management Inc boosted its holdings in Reliance by 157.8% in the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares during the last quarter. UMB Bank n.a. increased its position in Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 53 shares during the period. Brooklyn Investment Group bought a new stake in Reliance during the 3rd quarter worth about $78,000. Finally, Abound Wealth Management lifted its position in Reliance by 35,700.0% during the 4th quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 357 shares during the period. Institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 1.0 %

Shares of Reliance stock opened at $290.79 on Monday. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The company has a market capitalization of $15.74 billion, a P/E ratio of 15.97 and a beta of 0.91. The business has a 50-day moving average of $290.30 and a two-hundred day moving average of $290.33.

Reliance (NYSE:RS) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). Reliance had a net margin of 7.42% and a return on equity of 13.68%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the firm posted $5.00 EPS. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts predict that Reliance, Inc. will post 16.36 EPS for the current year.

Insider Activity at Reliance

In other news, CFO Arthur Ajemyan sold 6,332 shares of Reliance stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total value of $2,014,715.76. Following the sale, the chief financial officer now directly owns 9,245 shares in the company, valued at $2,941,574.10. This trade represents a 40.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William A. Smith II sold 6,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the transaction, the senior vice president now owns 16,849 shares of the company’s stock, valued at $5,420,491.79. The trade was a 27.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,724 shares of company stock valued at $5,366,450. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RS shares. KeyCorp dropped their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. The Goldman Sachs Group began coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target on the stock. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, BMO Capital Markets cut their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $328.17.

Reliance Company 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.