Reliance, Inc. (NYSE:RS) Given Average Rating of “Hold” by Analysts

Shares of Reliance, Inc. (NYSE:RS) have earned an average rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $328.17.

A number of research analysts have recently commented on RS shares. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group began coverage on shares of Reliance in a research report on Monday, December 2nd. They set a “neutral” rating and a $341.00 target price for the company. KeyCorp lowered their price target on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets reduced their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th.

Insider Buying and Selling

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 transaction, the chief executive officer now owns 85,117 shares in the company, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Reliance

Large investors have recently made changes to their positions in the business. Trust Point Inc. boosted its position in shares of Reliance by 3.6% during the third quarter. Trust Point Inc. now owns 972 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 34 shares in the last quarter. Quent Capital LLC increased its stake in Reliance by 4.1% during the 4th quarter. Quent Capital LLC now owns 941 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 37 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Reliance by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,149 shares of the industrial products company’s stock valued at $3,002,000 after acquiring an additional 39 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Reliance by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,715 shares of the industrial products company’s stock worth $2,077,000 after purchasing an additional 49 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings 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 in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Reliance Price Performance

Shares of NYSE:RS opened at $291.07 on Tuesday. The company has a market capitalization of $15.75 billion, a P/E ratio of 15.98 and a beta of 0.91. The company’s 50-day moving average is $283.79 and its 200 day moving average is $289.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. Reliance has a fifty-two week low of $256.98 and a fifty-two week high of $342.20.

About Reliance

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.