Insight Advisors LLC PA Buys New Shares in Reliance, Inc. (NYSE:RS)

Insight Advisors LLC PA bought a new stake in shares of Reliance, Inc. (NYSE:RS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,098 shares of the industrial products company’s stock, valued at approximately $559,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of Reliance by 6,311.2% during the fourth quarter. Pacer Advisors Inc. now owns 816,465 shares of the industrial products company’s stock valued at $219,841,000 after acquiring an additional 803,730 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Reliance by 27,269.0% during the third quarter. International Assets Investment Management LLC now owns 112,213 shares of the industrial products company’s stock valued at $32,453,000 after acquiring an additional 111,803 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Reliance by 19.7% during the third quarter. Principal Financial Group Inc. now owns 472,730 shares of the industrial products company’s stock valued at $136,718,000 after acquiring an additional 77,937 shares during the period. KBC Group NV raised its holdings in shares of Reliance by 68.8% during the third quarter. KBC Group NV now owns 139,660 shares of the industrial products company’s stock valued at $40,391,000 after acquiring an additional 56,933 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of Reliance during the third quarter valued at approximately $12,389,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Reliance Price Performance

NYSE RS opened at $286.73 on Thursday. The company has a current ratio of 3.31, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $285.88 and a 200 day simple moving average of $289.68. The company has a market cap of $15.52 billion, a P/E ratio of 15.75 and a beta of 0.90. Reliance, Inc. has a 1 year low of $256.98 and a 1 year high of $342.20.

Insider Buying and Selling

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 transaction of $1,260,618.80. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by insiders.

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.