Compagnie Lombard Odier SCmA Has $446,000 Position in Reliance, Inc. $RS

Compagnie Lombard Odier SCmA trimmed its holdings in Reliance, Inc. (NYSE:RS) by 92.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of Reliance by 6.6% during the 1st quarter. Royal Bank of Canada now owns 15,111 shares of the industrial products company’s stock worth $4,364,000 after purchasing an additional 940 shares in the last quarter. Empowered Funds LLC increased its position in Reliance by 4.8% in the 1st quarter. Empowered Funds LLC now owns 5,662 shares of the industrial products company’s stock valued at $1,635,000 after buying an additional 258 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Reliance by 99.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the industrial products company’s stock worth $76,000 after buying an additional 131 shares during the period. US Bancorp DE boosted its holdings in Reliance by 9.3% in the second quarter. US Bancorp DE now owns 2,267 shares of the industrial products company’s stock worth $712,000 after acquiring an additional 192 shares in the last quarter. Finally, Callan Family Office LLC bought a new position in Reliance in the second quarter worth approximately $412,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Insiders Place Their Bets

In related news, COO Stephen Paul Koch sold 3,066 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $283.56, for a total transaction of $869,394.96. Following the sale, the chief operating officer owned 14,021 shares of the company’s stock, valued at approximately $3,975,794.76. This represents a 17.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Karla R. Lewis sold 5,809 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 84,421 shares of the company’s stock, valued at approximately $23,933,353.50. This represents a 6.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RS shares. KeyCorp reissued an “overweight” rating on shares of Reliance in a research report on Wednesday, January 7th. BMO Capital Markets cut their price target on Reliance from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Wells Fargo & Company increased their price objective on Reliance from $284.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Reliance in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their target price on Reliance from $345.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, December 5th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $317.25.

Reliance Price Performance

NYSE RS opened at $353.72 on Wednesday. The company has a market cap of $18.50 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.10 and a beta of 0.92. Reliance, Inc. has a 52 week low of $250.07 and a 52 week 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’s 50-day simple moving average is $309.31 and its two-hundred day simple moving average is $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.