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

Pacer Advisors Inc. lifted its stake in shares of Reliance, Inc. (NYSE:RS) by 6,311.2% during the fourth quarter, HoldingsChannel reports. The firm owned 816,465 shares of the industrial products company’s stock after acquiring an additional 803,730 shares during the quarter. Pacer Advisors Inc.’s holdings in Reliance were worth $219,841,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in Reliance by 26.7% during the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after buying an additional 1,729 shares during the last quarter. Assetmark Inc. raised its stake in Reliance by 24.2% in the 3rd quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock valued at $8,074,000 after acquiring an additional 5,431 shares during the period. Dearborn Partners LLC lifted its holdings in Reliance by 4.1% during the 3rd quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock valued at $24,989,000 after purchasing an additional 3,419 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Reliance by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock worth $36,963,000 after purchasing an additional 1,696 shares during the period. Finally, Pure Financial Advisors LLC boosted its holdings in shares of Reliance by 232.9% during the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock worth $2,499,000 after buying an additional 6,493 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $323.90, for a total value of $1,260,618.80. Following the transaction, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William A. Smith II sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total value of $2,091,115.00. Following the sale, the senior vice president now owns 16,849 shares in the company, valued at approximately $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 quarter, insiders have sold 16,724 shares of company stock worth $5,366,450. Insiders own 0.69% of the company’s stock.

Reliance Trading Up 1.0 %

Shares of RS stock opened at $290.79 on Monday. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $15.74 billion, a P/E ratio of 15.97 and a beta of 0.91. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20. The stock’s fifty day simple moving average is $290.30 and its 200 day simple moving average is $290.33.

Reliance (NYSE:RS) last posted its quarterly earnings data 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). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.00 earnings per share. As a group, sell-side analysts predict that Reliance, Inc. will post 16.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RS has been the topic of several recent research reports. KeyCorp lowered their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group initiated coverage on Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price on the stock. BMO Capital Markets decreased their target price on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Reliance has a consensus rating of “Hold” and a consensus price target 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.