Monument Capital Management Increases Stake in Reliance, Inc. (NYSE:RS)

Monument Capital Management boosted its stake in shares of Reliance, Inc. (NYSE:RS) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,829 shares of the industrial products company’s stock after purchasing an additional 198 shares during the period. Monument Capital Management’s holdings in Reliance were worth $2,646,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Trust Point Inc. boosted its holdings in Reliance by 3.6% in the third quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 34 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Reliance by 4.1% in the fourth quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock worth $253,000 after buying an additional 37 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Reliance by 0.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company’s stock worth $2,077,000 after acquiring an additional 49 shares during the period. Janney Montgomery Scott LLC raised its position in Reliance by 0.3% during the third quarter. Janney Montgomery Scott LLC now owns 19,578 shares of the industrial products company’s stock valued at $5,662,000 after acquiring an additional 58 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Reliance by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,634 shares of the industrial products company’s stock worth $762,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction of $1,260,618.80. Following the transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

RS has been the subject of several analyst reports. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group initiated coverage on Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price on the stock. BMO Capital Markets reduced their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, KeyCorp dropped their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $328.17.

Reliance Price Performance

Shares of Reliance stock opened at $297.98 on Monday. The stock has a market capitalization of $16.13 billion, a P/E ratio of 16.36 and a beta of 0.91. The business has a 50 day simple moving average of $282.33 and a two-hundred day simple moving average of $288.94. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. 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 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.