Compagnie Lombard Odier SCmA Boosts Stake in Reliance, Inc. (NYSE:RS)

Compagnie Lombard Odier SCmA lifted its holdings in Reliance, Inc. (NYSE:RS) by 108.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,364 shares of the industrial products company’s stock after purchasing an additional 18,880 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Reliance were worth $9,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its position in Reliance by 3.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 22,237 shares of the industrial products company’s stock worth $5,998,000 after purchasing an additional 685 shares during the last quarter. Quent Capital LLC increased its position in Reliance by 4.1% during the fourth quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 37 shares during the last quarter. Peterson Wealth Services increased its position in Reliance by 6.2% during the fourth quarter. Peterson Wealth Services now owns 3,329 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 194 shares during the last quarter. Savant Capital LLC increased its position in Reliance by 86.9% during the fourth quarter. Savant Capital LLC now owns 3,581 shares of the industrial products company’s stock worth $964,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Reliance by 85.5% during the fourth quarter. Empowered Funds LLC now owns 5,404 shares of the industrial products company’s stock worth $1,455,000 after purchasing an additional 2,491 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Reliance Price Performance

Shares of RS opened at $291.28 on Friday. 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 stock has a market cap of $15.76 billion, a PE ratio of 16.00 and a beta of 0.91. The firm has a 50-day simple moving average of $282.45 and a two-hundred day simple moving average of $289.17. Reliance, Inc. has a 1-year low of $256.98 and a 1-year high of $342.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BMO Capital Markets cut their price objective 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. KeyCorp dropped their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group assumed coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target for the company. Finally, Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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 Reliance stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the transaction, 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 is accessible through this hyperlink. Company 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.