Reliance, Inc. (NYSE:RS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Reliance, Inc. (NYSE:RS) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,705 shares of the industrial products company’s stock after selling 1,026 shares during the quarter. Retirement Systems of Alabama’s holdings in Reliance were worth $35,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RS. Toronto Dominion Bank increased its stake in Reliance by 26.7% in the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock valued at $2,371,000 after purchasing an additional 1,729 shares during the period. Assetmark Inc. increased its position in Reliance by 24.2% in the 3rd quarter. Assetmark Inc. now owns 27,916 shares of the industrial products company’s stock valued at $8,074,000 after acquiring an additional 5,431 shares during the period. Dearborn Partners LLC raised its stake in Reliance by 4.1% during the 3rd quarter. Dearborn Partners LLC now owns 86,406 shares of the industrial products company’s stock valued at $24,989,000 after acquiring an additional 3,419 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Reliance by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 127,806 shares of the industrial products company’s stock worth $36,963,000 after acquiring an additional 1,696 shares during the period. Finally, Pure Financial Advisors LLC grew its stake in shares of Reliance by 232.9% in the 4th quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after purchasing an additional 6,493 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Reliance Stock Performance

Shares of 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 stock has a market cap of $15.52 billion, a P/E ratio of 15.75 and a beta of 0.90. 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 50-day moving average of $285.88 and a two-hundred day moving average of $289.68.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group started coverage on Reliance in a research note on Monday, December 2nd. They set a “neutral” rating and a $341.00 price target for the company. KeyCorp dropped their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Wolfe Research raised Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets lowered their price target on shares of Reliance from $340.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Reliance currently has an average rating of “Hold” and an average price target of $328.17.

Insider Buying and Selling at Reliance

In other news, CEO Karla R. Lewis sold 3,892 shares of the firm’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 sale, the chief executive officer now owns 85,117 shares in the company, valued at $27,569,396.30. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.