Compagnie Lombard Odier SCmA Buys 18,880 Shares of Reliance, Inc. (NYSE:RS)

Compagnie Lombard Odier SCmA increased its holdings in shares of Reliance, Inc. (NYSE:RS - Free Report) by 108.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 owned 0.07% of Reliance worth $9,791,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RS. Quarry LP acquired a new stake in Reliance during the third quarter worth approximately $41,000. Versant Capital Management Inc lifted its position 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 last quarter. Brooklyn Investment Group acquired a new stake in Reliance during the third quarter worth approximately $78,000. UMB Bank n.a. lifted its position in Reliance by 41.8% during the fourth quarter. UMB Bank n.a. now owns 353 shares of the industrial products company's stock worth $95,000 after acquiring an additional 104 shares during the last quarter. Finally, Abound Wealth Management lifted its position in Reliance by 35,700.0% during 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 during the last quarter. Institutional investors own 79.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Reliance in a research report on Monday, December 2nd. They set a "neutral" rating and a $341.00 price objective for the company. 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. Wolfe Research upgraded shares of Reliance from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their price target 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $328.17.

Insider Buying and Selling at Reliance

In other Reliance news, CEO Karla R. Lewis sold 3,892 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were 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 directly owns 85,117 shares in the company, 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 this link. Company insiders own 0.69% of the company's stock.

Reliance Price Performance

RS traded up $1.53 during trading on Tuesday, hitting $299.22. 416,450 shares of the stock traded hands, compared to its average volume of 407,982. Reliance, Inc. has a twelve month low of $256.98 and a twelve month high of $342.20. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 16.43 and a beta of 0.91. 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 $281.97 and a 200 day moving average price of $289.04.

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.