Empowered Funds LLC Has $1.46 Million Holdings in Reliance, Inc. (NYSE:RS)

Empowered Funds LLC raised its holdings in shares of Reliance, Inc. (NYSE:RS) by 85.5% during the 4th quarter, HoldingsChannel reports. The fund owned 5,404 shares of the industrial products company’s stock after purchasing an additional 2,491 shares during the period. Empowered Funds LLC’s holdings in Reliance were worth $1,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RS. Vest Financial LLC raised its stake in shares of Reliance by 29.3% during the 4th quarter. Vest Financial LLC now owns 130,483 shares of the industrial products company’s stock worth $35,134,000 after purchasing an additional 29,557 shares in the last quarter. Woodward Diversified Capital LLC acquired a new position in Reliance in the fourth quarter worth approximately $21,015,000. Insight Advisors LLC PA acquired a new stake in shares of Reliance in the 4th quarter valued at $559,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Reliance by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,973 shares of the industrial products company’s stock worth $2,389,000 after acquiring an additional 404 shares in the last quarter. Finally, E. Ohman J or Asset Management AB increased its holdings in shares of Reliance by 19.6% during the 4th quarter. E. Ohman J or Asset Management AB now owns 2,750 shares of the industrial products company’s stock valued at $740,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Stock Up 2.3 %

RS opened at $297.98 on Monday. 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 firm’s fifty day moving average price is $282.33 and its two-hundred day moving average price is $288.94. Reliance, Inc. has a fifty-two week low of $256.98 and a fifty-two week high of $342.20. The company has a market capitalization of $16.13 billion, a P/E ratio of 16.36 and a beta of 0.91.

Insider Buying and Selling

In other news, CEO Karla R. Lewis sold 3,892 shares of the business’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 transaction, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

RS has been the subject of several analyst reports. BMO Capital Markets reduced their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wolfe Research upgraded Reliance from an “underperform” rating to a “peer perform” rating in a research note 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 price objective for the company. Finally, KeyCorp reduced their target price on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Reliance has a consensus rating of “Hold” and a consensus target price of $328.17.

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.