Cwm LLC Has $282,000 Stock Position in Reliance, Inc. (NYSE:RS)

Cwm LLC decreased its position in shares of Reliance, Inc. (NYSE:RS) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 975 shares of the industrial products company’s stock after selling 49 shares during the quarter. Cwm LLC’s holdings in Reliance were worth $282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Reliance during the 1st quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of Reliance in the 2nd quarter valued at about $28,000. National Bank of Canada FI boosted its stake in Reliance by 17.9% during the 2nd quarter. National Bank of Canada FI now owns 270 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 41 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Reliance during the 1st quarter valued at about $86,000. Finally, International Assets Investment Management LLC acquired a new stake in Reliance during the 2nd quarter worth approximately $117,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RS shares. Bank of America cut their price objective on shares of Reliance from $340.00 to $335.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. KeyCorp cut their price objective on shares of Reliance from $335.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, Wolfe Research cut Reliance from a “peer perform” rating to an “underperform” rating and set a $262.00 price objective for the company. in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $329.40.

Reliance Stock Down 0.2 %

Reliance stock opened at $296.32 on Tuesday. The company’s 50-day moving average is $283.26 and its 200-day moving average is $291.97. The firm has a market capitalization of $16.30 billion, a PE ratio of 15.13 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.02 and a quick ratio of 2.43. Reliance, Inc. has a fifty-two week low of $237.14 and a fifty-two week high of $342.20.

Reliance (NYSE:RS) last posted its earnings results on Thursday, July 25th. The industrial products company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.08). Reliance had a return on equity of 14.73% and a net margin of 7.99%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the firm posted $6.49 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Reliance, Inc. will post 17.16 earnings per share for the current year.

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.