Savant Capital LLC Has $964,000 Position in Reliance, Inc. (NYSE:RS)

Savant Capital LLC increased its stake in Reliance, Inc. (NYSE:RS - Free Report) by 86.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,581 shares of the industrial products company's stock after purchasing an additional 1,665 shares during the quarter. Savant Capital LLC's holdings in Reliance were worth $964,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RS. Creative Planning lifted its holdings in shares of Reliance by 1.0% during the third quarter. Creative Planning now owns 66,617 shares of the industrial products company's stock worth $19,266,000 after buying an additional 661 shares during the last quarter. Swedbank AB lifted its holdings in shares of Reliance by 38.4% during the third quarter. Swedbank AB now owns 42,881 shares of the industrial products company's stock worth $12,402,000 after buying an additional 11,887 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Reliance during the third quarter valued at approximately $376,000. Trust Point Inc. increased 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 during the period. Finally, Stratos Wealth Advisors LLC bought a new stake in Reliance in the third quarter valued at $203,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RS has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Reliance from $340.00 to $330.00 and set an "outperform" rating for the company in a report on Friday, October 25th. The Goldman Sachs Group started coverage on Reliance in a report on Monday, December 2nd. They issued a "neutral" rating and a $341.00 price target for the company. KeyCorp decreased their price objective on Reliance from $325.00 to $321.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd. Finally, Wolfe Research upgraded Reliance from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $328.17.

Reliance Stock Up 1.0 %

RS stock traded up $2.87 during mid-day trading on Tuesday, reaching $300.56. The company had a trading volume of 112,761 shares, compared to its average volume of 397,490. 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 50 day simple moving average of $282.12 and a two-hundred day simple moving average of $288.96. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 16.50 and a beta of 0.91. Reliance, Inc. has a 52 week low of $256.98 and a 52 week high of $342.20.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 85,117 shares of the company's stock, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.69% of the company's stock.

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.