Reliance, Inc. (NYSE:RS) Shares Purchased by Swedbank AB

Swedbank AB boosted its position in shares of Reliance, Inc. (NYSE:RS) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 43,568 shares of the industrial products company’s stock after acquiring an additional 687 shares during the quarter. Swedbank AB’s holdings in Reliance were worth $11,731,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Reliance by 4.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,240 shares of the industrial products company’s stock valued at $926,000 after purchasing an additional 134 shares during the period. Sanctuary Advisors LLC acquired a new stake in Reliance during the second quarter valued at $3,073,000. Handelsbanken Fonder AB increased its stake in shares of Reliance by 26.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 14,781 shares of the industrial products company’s stock valued at $4,275,000 after purchasing an additional 3,100 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Reliance by 19.1% during the 3rd quarter. GAMMA Investing LLC now owns 697 shares of the industrial products company’s stock worth $202,000 after buying an additional 112 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in Reliance by 3.1% during the third quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock valued at $454,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. KeyCorp lowered their target price on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. 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 target price for the company. Finally, BMO Capital Markets dropped their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $328.17.

Insider Activity at Reliance

In related news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William A. Smith II sold 6,500 shares of the 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 completion of the sale, the senior vice president now directly owns 16,849 shares in the company, valued at $5,420,491.79. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,724 shares of company stock worth $5,366,450. Corporate insiders own 0.69% of the company’s stock.

Reliance Stock Performance

NYSE RS opened at $289.85 on Friday. 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 cap of $15.69 billion, a P/E ratio of 15.92 and a beta of 0.91. The stock has a 50-day moving average of $288.14 and a two-hundred day moving average of $290.26. Reliance, Inc. has a 1-year low of $256.98 and a 1-year high of $342.20.

About Reliance

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.