Reliance, Inc. $RS Stock Holdings Lowered by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH trimmed its holdings in shares of Reliance, Inc. (NYSE:RS) by 4.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,280 shares of the industrial products company’s stock after selling 1,622 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Reliance were worth $10,469,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

RS has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on Reliance from $284.00 to $287.00 and gave the stock an “equal weight” rating in a report on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. BMO Capital Markets decreased their price objective on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Zacks Research cut shares of Reliance from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Finally, KeyCorp restated an “overweight” rating on shares of Reliance in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $317.25.

Insider Buying and Selling at Reliance

In other news, COO Stephen Paul Koch sold 3,066 shares of the business’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 transaction, the chief operating officer directly owned 14,021 shares in the company, valued at $3,975,794.76. The trade was a 17.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Karla R. Lewis sold 5,809 shares of the stock in a transaction 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 sale, the chief executive officer owned 84,421 shares of the company’s stock, valued at approximately $23,933,353.50. This represents 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.

Reliance Price Performance

NYSE RS opened at $329.71 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 2.08. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.97 and a beta of 0.92. The company has a 50 day simple moving average of $294.13 and a 200-day simple moving average of $291.75. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $347.43.

Reliance (NYSE:RS) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). Reliance had a net margin of 5.23% and a return on equity of 10.37%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the company posted $3.64 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts predict that Reliance, Inc. will post 16.98 earnings per share for the current fiscal year.

About Reliance

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.