Reliance, Inc. (NYSE:RS) Shares Purchased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB boosted its stake in Reliance, Inc. (NYSE:RS) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,750 shares of the industrial products company’s stock after buying an additional 450 shares during the period. E. Ohman J or Asset Management AB’s holdings in Reliance were worth $740,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its position in Reliance by 26.7% in the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after buying an additional 1,729 shares during the period. Assetmark Inc. grew its stake in shares of Reliance by 24.2% in the third quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock worth $8,074,000 after purchasing an additional 5,431 shares in the last quarter. Dearborn Partners LLC grew its stake in shares of Reliance by 4.1% in the third quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock worth $24,989,000 after purchasing an additional 3,419 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Reliance by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock worth $36,963,000 after purchasing an additional 1,696 shares in the last quarter. Finally, Pure Financial Advisors LLC grew its stake in shares of Reliance by 232.9% in the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock worth $2,499,000 after purchasing an additional 6,493 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RS has been the subject of several recent analyst reports. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. BMO Capital Markets decreased their price target on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group assumed coverage on Reliance in a research note on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target for the company. Finally, KeyCorp decreased their target price on Reliance from $325.00 to $321.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $328.17.

Reliance Trading Up 1.8 %

Shares of NYSE RS opened at $286.73 on Thursday. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 15.75 and a beta of 0.90. 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 business has a fifty day simple moving average of $285.88 and a 200-day simple moving average of $289.68.

Insider Activity

In other news, CEO Karla R. Lewis sold 3,892 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.90, for a total transaction 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 represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by company insiders.

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.