First National Bank of Omaha Buys New Holdings in Reliance, Inc. $RS

First National Bank of Omaha purchased a new position in Reliance, Inc. (NYSE:RS) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 28,642 shares of the industrial products company’s stock, valued at approximately $8,044,000.

A number of other institutional investors have also added to or reduced their stakes in RS. Boston Partners lifted its holdings in shares of Reliance by 72.6% in the second quarter. Boston Partners now owns 1,763,317 shares of the industrial products company’s stock worth $552,461,000 after buying an additional 741,417 shares in the last quarter. Franklin Resources Inc. increased its holdings in Reliance by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 1,090,657 shares of the industrial products company’s stock valued at $342,357,000 after acquiring an additional 26,545 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Reliance by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 755,756 shares of the industrial products company’s stock valued at $212,243,000 after acquiring an additional 30,765 shares during the last quarter. Norges Bank purchased a new stake in Reliance in the 2nd quarter worth $207,741,000. Finally, American Century Companies Inc. boosted its holdings in shares of Reliance by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 626,890 shares of the industrial products company’s stock valued at $196,781,000 after purchasing an additional 38,012 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $283.56, for a total value of $869,394.96. Following the completion of the sale, the chief operating officer owned 14,021 shares of the company’s stock, valued at $3,975,794.76. This trade represents a 17.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Karla R. Lewis sold 5,809 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $283.50, for a total value of $1,646,851.50. Following the transaction, the chief executive officer owned 84,421 shares of the company’s stock, valued at $23,933,353.50. This trade represents a 6.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.35% of the stock is currently owned by company insiders.

Reliance Stock Down 0.8%

Shares of RS opened at $340.74 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $315.73 and a 200 day moving average of $294.28. The company has a market cap of $17.82 billion, a PE ratio of 24.91, a P/E/G ratio of 2.05 and a beta of 0.92. Reliance, Inc. has a 52-week low of $250.07 and a 52-week high of $365.59.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RS. JPMorgan Chase & Co. reduced their target price on Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, December 5th. KeyCorp reaffirmed an “overweight” rating on shares of Reliance in a research note on Wednesday, January 7th. Zacks Research raised Reliance from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. Finally, Wells Fargo & Company upped their price target on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.25.

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.