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

Vest Financial LLC grew its position in shares of Reliance, Inc. (NYSE:RS) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,483 shares of the industrial products company’s stock after buying an additional 29,557 shares during the quarter. Vest Financial LLC owned 0.24% of Reliance worth $35,134,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Reliance by 19.1% in the 3rd quarter. GAMMA Investing LLC now owns 697 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 112 shares in the last quarter. UMB Bank n.a. boosted its position 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 valued at $72,000 after buying an additional 53 shares during the last quarter. Evexia Wealth LLC increased its holdings in Reliance by 1.4% in the 3rd quarter. Evexia Wealth LLC now owns 12,400 shares of the industrial products company’s stock worth $3,530,000 after buying an additional 166 shares in the last quarter. Compagnie Lombard Odier SCmA raised its position in Reliance by 11.6% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 17,484 shares of the industrial products company’s stock worth $5,057,000 after buying an additional 1,823 shares during the last quarter. Finally, Oliver Luxxe Assets LLC lifted its stake in Reliance by 2.2% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 20,174 shares of the industrial products company’s stock valued at $5,834,000 after acquiring an additional 435 shares during the period. Institutional investors own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Karla R. Lewis sold 3,892 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 85,117 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. 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 report on Friday, October 25th. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. KeyCorp cut 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, The Goldman Sachs Group began coverage on Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price on the stock. 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, Reliance has a consensus rating of “Hold” and a consensus price target of $328.17.

Reliance Stock Down 0.8 %

Shares of RS stock opened at $282.96 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. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The company’s fifty day moving average price is $284.36 and its 200-day moving average price is $289.51. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of 15.54 and a beta of 0.91.

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.