Compagnie Lombard Odier SCmA Cuts Holdings in Reliance, Inc. $RS

Compagnie Lombard Odier SCmA decreased its stake in Reliance, Inc. (NYSE:RS) by 92.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,587 shares of the industrial products company’s stock after selling 19,088 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Reliance were worth $446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in RS. Private Trust Co. NA increased its stake in Reliance by 417.6% in the second quarter. Private Trust Co. NA now owns 88 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 71 shares during the last quarter. Guerra Advisors Inc purchased a new position in shares of Reliance in the 3rd quarter worth about $34,000. Root Financial Partners LLC purchased a new position in shares of Reliance in the 3rd quarter worth about $38,000. Allworth Financial LP increased its position in shares of Reliance by 46.3% during the 2nd quarter. Allworth Financial LP now owns 139 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 44 shares during the last quarter. Finally, Caldwell Trust Co purchased a new position in shares of Reliance during the 2nd quarter valued at about $58,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RS. KeyCorp reaffirmed an “overweight” rating on shares of Reliance in a research note on Wednesday, January 7th. Zacks Research raised shares of Reliance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, December 5th. BMO Capital Markets decreased their target price on shares of Reliance from $340.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Finally, Wells Fargo & Company upped their price target on shares of Reliance from $284.00 to $287.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $317.25.

Insider Transactions at Reliance

In other Reliance news, COO Stephen Paul Koch sold 3,066 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.56, for a total transaction of $869,394.96. Following the completion of the transaction, the chief operating officer owned 14,021 shares of the company’s stock, valued at $3,975,794.76. This represents a 17.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Karla R. Lewis sold 5,809 shares of Reliance stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $283.50, for a total value of $1,646,851.50. Following the completion of the sale, the chief executive officer owned 84,421 shares in the company, valued at approximately $23,933,353.50. This represents a 6.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.35% of the company’s stock.

Reliance Trading Up 0.4%

Shares of RS opened at $353.72 on Wednesday. The stock has a market capitalization of $18.50 billion, a P/E ratio of 25.86, a PEG ratio of 2.10 and a beta of 0.92. Reliance, Inc. has a twelve month low of $250.07 and a twelve month high of $354.74. The company has a quick ratio of 2.08, a current ratio of 4.43 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $309.31 and a two-hundred day simple moving average of $292.34.

Reliance Profile

Reliance Steel & Aluminum Co (NYSE: RS) is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.