UMB Bank n.a. Raises Position in Reliance, Inc. (NYSE:RS)

UMB Bank n.a. increased its position in shares of Reliance, Inc. (NYSE:RS) by 41.8% in the 4th quarter, HoldingsChannel reports. The firm owned 353 shares of the industrial products company’s stock after purchasing an additional 104 shares during the period. UMB Bank n.a.’s holdings in Reliance were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Reliance during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc grew its holdings in Reliance by 157.8% during the fourth quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 131 shares during the period. Brooklyn Investment Group acquired a new position in Reliance during the third quarter worth $78,000. Abound Wealth Management raised its position 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 acquiring an additional 357 shares in the last quarter. Finally, Covestor Ltd raised its position in Reliance by 17.6% in the third quarter. Covestor Ltd now owns 462 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 69 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Trading Up 0.2 %

Shares of Reliance stock opened at $287.98 on Friday. 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 price of $290.69 and a 200 day moving average price of $290.13. The company has a market capitalization of $15.59 billion, a P/E ratio of 15.81 and a beta of 0.91.

Reliance (NYSE:RS) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.38 billion. Reliance had a return on equity of 13.68% and a net margin of 7.42%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $5.00 earnings per share. Sell-side analysts anticipate that Reliance, Inc. will post 16.38 EPS for the current fiscal year.

Insider Activity at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at approximately $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark V. Kaminski sold 5,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $298.01, for a total value of $1,490,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,724 shares of company stock valued at $6,856,500. 0.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RS has been the subject of a number of research analyst reports. BMO Capital Markets cut their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. KeyCorp dropped their target price on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. Finally, Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $328.17.

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.