Peterson Wealth Services Has $896,000 Holdings in Reliance, Inc. (NYSE:RS)

Peterson Wealth Services lifted its stake in shares of Reliance, Inc. (NYSE:RS) by 6.2% in the 4th quarter, Holdings Channel reports. The fund owned 3,329 shares of the industrial products company’s stock after acquiring an additional 194 shares during the quarter. Peterson Wealth Services’ holdings in Reliance were worth $896,000 as of its most recent SEC filing.

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

Reliance Price Performance

Shares of NYSE RS opened at $291.07 on Tuesday. 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 business’s 50 day moving average price is $283.79 and its two-hundred day moving average price is $289.27. The company has a market cap of $15.75 billion, a PE ratio of 15.98 and a beta of 0.91. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20.

Analyst Ratings Changes

A number of research firms have recently issued reports on RS. The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price objective on the stock. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. KeyCorp decreased their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, BMO Capital Markets dropped their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock 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. Based on data from MarketBeat, Reliance has a consensus rating of “Hold” and an average target price of $328.17.

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the completion of the sale, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by insiders.

Reliance 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.