Reliance, Inc. (NYSE:RS) Shares Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lifted its holdings in Reliance, Inc. (NYSE:RS) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,751 shares of the industrial products company’s stock after buying an additional 84 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Reliance were worth $1,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RS. International Assets Investment Management LLC lifted its position in Reliance by 27,269.0% during the 3rd quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company’s stock worth $32,453,000 after acquiring an additional 111,803 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock worth $136,718,000 after purchasing an additional 77,937 shares during the period. KBC Group NV boosted its position in Reliance by 68.8% in the third quarter. KBC Group NV now owns 139,660 shares of the industrial products company’s stock valued at $40,391,000 after buying an additional 56,933 shares during the last quarter. Weiss Asset Management LP acquired a new position in Reliance in the 3rd quarter worth approximately $12,389,000. Finally, Assenagon Asset Management S.A. increased its holdings in Reliance by 478.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 50,694 shares of the industrial products company’s stock worth $13,650,000 after buying an additional 41,925 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp dropped their price objective on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target on the stock. BMO Capital Markets reduced their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $328.17.

Reliance Stock Up 1.0 %

RS stock opened at $290.79 on Friday. The firm’s fifty day moving average is $290.30 and its 200 day moving average is $290.29. The firm has a market cap of $15.74 billion, a PE ratio of 15.97 and a beta of 0.91. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Reliance (NYSE:RS) last posted its earnings results on Thursday, October 24th. The industrial products company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. Reliance had a net margin of 7.42% and a return on equity of 13.68%. Reliance’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business earned $5.00 earnings per share. On average, research analysts forecast that Reliance, Inc. will post 16.36 EPS for the current year.

Insiders Place Their Bets

In other Reliance news, Director Mark V. Kaminski sold 5,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $298.01, for a total transaction of $1,490,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 in the company, valued at approximately $27,569,396.30. This trade represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,724 shares of company stock worth $6,856,500. 0.69% of the stock is owned by corporate insiders.

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.