Quent Capital LLC Acquires 37 Shares of Reliance, Inc. (NYSE:RS)

Quent Capital LLC increased its holdings in Reliance, Inc. (NYSE:RS) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 941 shares of the industrial products company’s stock after buying an additional 37 shares during the period. Quent Capital LLC’s holdings in Reliance were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Reliance during the third quarter worth $41,000. Versant Capital Management Inc increased its position in shares of 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 purchasing an additional 131 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Reliance during the third quarter worth $78,000. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 104 shares in the last quarter. Finally, Abound Wealth Management increased its position in shares of 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 purchasing an additional 357 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Reliance Price Performance

NYSE:RS opened at $286.93 on Thursday. Reliance, Inc. has a one year low of $256.98 and a one year high of $342.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 15.76 and a beta of 0.91. The firm’s fifty day moving average is $282.78 and its two-hundred day moving average is $289.16.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the 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 sale, the chief executive officer now directly owns 85,117 shares of the company’s stock, valued at $27,569,396.30. This represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RS shares. 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 report on Wednesday, January 22nd. The Goldman Sachs Group started coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective on the stock. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their price objective 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $328.17.

About Reliance

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.