Empower Advisory Group LLC Grows Stock Position in Reliance, Inc. (NYSE:RS)

Empower Advisory Group LLC lifted its position in shares of Reliance, Inc. (NYSE:RS) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,862 shares of the industrial products company’s stock after acquiring an additional 345 shares during the quarter. Empower Advisory Group LLC owned approximately 0.09% of Reliance worth $13,157,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RS. Pacer Advisors Inc. raised its holdings in Reliance by 6,311.2% during the 4th quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock valued at $219,841,000 after acquiring an additional 803,730 shares during the period. Principal Financial Group Inc. grew its position in shares of Reliance by 53.5% in the fourth quarter. Principal Financial Group Inc. now owns 725,685 shares of the industrial products company’s stock valued at $195,402,000 after purchasing an additional 252,955 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 valued at $32,453,000 after purchasing an additional 111,803 shares during the period. Woodward Diversified Capital LLC purchased a new stake in Reliance during the 4th quarter worth about $21,015,000. Finally, KBC Group NV boosted its stake in Reliance by 68.8% in the 3rd quarter. KBC Group NV now owns 139,660 shares of the industrial products company’s stock worth $40,391,000 after purchasing an additional 56,933 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insider Activity

In other Reliance 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 value 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. The trade was a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Reliance Stock Performance

NYSE:RS opened at $297.98 on Tuesday. Reliance, Inc. has a 1-year low of $256.98 and a 1-year 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. The business has a 50 day moving average of $282.12 and a 200 day moving average of $288.96. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 16.36 and a beta of 0.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. KeyCorp lowered their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. BMO Capital Markets reduced their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research 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. Finally, 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 price target for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Reliance currently has a consensus 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.