Reliance, Inc. (NYSE:RS) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Reliance, Inc. (NYSE:RS) by 85.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,404 shares of the industrial products company’s stock after purchasing an additional 2,491 shares during the period. Empowered Funds LLC’s holdings in Reliance were worth $1,455,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP purchased a new stake in Reliance in the third quarter valued at approximately $41,000. Versant Capital Management Inc raised its stake in shares of Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 131 shares during the period. Brooklyn Investment Group acquired a new position in shares of Reliance during the third quarter worth $78,000. UMB Bank n.a. boosted its stake in shares of Reliance by 41.8% in the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 104 shares during the period. Finally, Abound Wealth Management grew its holdings in Reliance by 35,700.0% during the 4th quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 357 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on RS shares. KeyCorp reduced their price target on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. BMO Capital Markets dropped their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. 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 objective 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Reliance presently has a consensus rating of “Hold” and an average target price of $328.17.

Insider Activity at Reliance

In related 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 sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

Reliance Stock Performance

Shares of RS stock opened at $297.98 on Monday. 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, Inc. has a 12-month low of $256.98 and a 12-month high of $342.20. The business has a 50 day simple moving average of $282.33 and a 200 day simple moving average of $288.94. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of 16.36 and a beta of 0.91.

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.