Compagnie Lombard Odier SCmA Boosts Holdings in Reliance, Inc. (NYSE:RS)

Compagnie Lombard Odier SCmA boosted its position in shares of Reliance, Inc. (NYSE:RS) by 108.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,364 shares of the industrial products company’s stock after acquiring 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 Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank increased its stake in Reliance by 26.7% during the 3rd quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock valued at $2,371,000 after purchasing an additional 1,729 shares in the last quarter. Assetmark Inc. increased its stake in Reliance by 24.2% during the 3rd quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock valued at $8,074,000 after purchasing an additional 5,431 shares in the last quarter. Dearborn Partners LLC increased its stake in Reliance by 4.1% during the 3rd quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock valued at $24,989,000 after purchasing an additional 3,419 shares in the last quarter. Pure Financial Advisors LLC increased its stake in Reliance by 232.9% during the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after purchasing an additional 6,493 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Reliance by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock valued at $36,963,000 after purchasing an additional 1,696 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

Reliance Stock Performance

RS opened at $291.28 on Friday. The company has a quick ratio of 1.58, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The company has a market cap of $15.76 billion, a price-to-earnings ratio of 16.00 and a beta of 0.91. Reliance, Inc. has a 52-week low of $256.98 and a 52-week high of $342.20. The firm’s fifty day simple moving average is $282.45 and its two-hundred day simple moving average is $289.17.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RS shares. Wolfe Research upgraded shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group started coverage on shares of Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target on the stock. BMO Capital Markets cut their price objective on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, KeyCorp cut their price objective on shares of Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $328.17.

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 dated Monday, December 2nd. The shares were 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 approximately $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. Insiders own 0.69% of the company’s stock.

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.