BSW Wealth Partners Boosts Holdings in Reliance, Inc. (NYSE:RS)

BSW Wealth Partners increased its holdings in Reliance, Inc. (NYSE:RS) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,215 shares of the industrial products company’s stock after buying an additional 422 shares during the quarter. BSW Wealth Partners’ holdings in Reliance were worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RS. Quarry LP bought a new stake in Reliance during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc boosted 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. UMB Bank n.a. boosted its stake in shares of Reliance by 27.0% during the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 53 shares during the period. Brooklyn Investment Group bought a new stake in shares of Reliance in the third quarter valued at about $78,000. Finally, Abound Wealth Management raised its holdings in Reliance by 35,700.0% in the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

Shares of NYSE RS opened at $292.58 on Wednesday. Reliance, Inc. has a 1-year low of $256.98 and a 1-year high of $342.20. The business has a 50-day moving average of $289.53 and a 200-day moving average of $290.27. 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 company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 16.07 and a beta of 0.91.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RS shares. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. KeyCorp reduced their target price on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. BMO Capital Markets reduced their price objective on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 target price for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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 dated 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 completion of the transaction, the chief executive officer now owns 85,117 shares of the company’s stock, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Arthur Ajemyan sold 6,332 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total value of $2,014,715.76. Following the transaction, the chief financial officer now owns 9,245 shares in the company, valued at $2,941,574.10. This represents a 40.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,724 shares of company stock valued at $5,366,450. Insiders own 0.69% of the company’s stock.

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.