Vest Financial LLC Raises Position in Reliance, Inc. (NYSE:RS)

Vest Financial LLC increased its stake in Reliance, Inc. (NYSE:RS) by 29.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 130,483 shares of the industrial products company’s stock after acquiring an additional 29,557 shares during the period. Vest Financial LLC’s holdings in Reliance were worth $35,134,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the 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 completion of the sale, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Reliance Stock Performance

Shares of RS stock opened at $282.96 on Friday. 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 cap of $15.31 billion, a price-to-earnings ratio of 15.54 and a beta of 0.91. The company’s 50 day moving average is $284.36 and its 200 day moving average is $289.51. Reliance, Inc. has a 52-week low of $256.98 and a 52-week high of $342.20.

Analyst Ratings Changes

A number of research firms have recently commented on RS. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. BMO Capital Markets dropped their target price on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. The Goldman Sachs Group began coverage on shares of Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target for the company. Finally, KeyCorp dropped their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Reliance has an average rating of “Hold” and an average target price 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.