Reliance, Inc. (NYSE:RS) Shares Purchased by BSW Wealth Partners

BSW Wealth Partners raised its position in shares of Reliance, Inc. (NYSE:RS) by 23.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,215 shares of the industrial products company’s stock after purchasing an additional 422 shares during the quarter. BSW Wealth Partners’ holdings in Reliance were worth $596,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. APG Asset Management N.V. acquired a new stake in shares of Reliance during the second quarter worth approximately $2,168,000. MBB Public Markets I LLC acquired a new stake in shares of Reliance in the second quarter valued at approximately $1,205,000. Creative Planning increased its holdings in shares of Reliance by 0.4% in the second quarter. Creative Planning now owns 65,956 shares of the industrial products company’s stock valued at $18,837,000 after purchasing an additional 289 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Reliance by 4.3% in 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 in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Reliance in the second quarter valued at approximately $3,073,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Karla R. Lewis sold 3,892 shares of Reliance stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William A. Smith II sold 6,500 shares of Reliance stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the transaction, the senior vice president now directly owns 16,849 shares in the company, valued at approximately $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,724 shares of company stock worth $5,366,450. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

RS has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. KeyCorp lowered their price objective 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. The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. Finally, Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $328.17.

Reliance Price Performance

RS opened at $292.58 on Wednesday. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 16.07 and a beta of 0.91. 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 50-day moving average price of $289.53 and a 200-day moving average price of $290.27. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20.

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.