Reliance, Inc. (NYSE:RS) Shares Sold by Core Alternative Capital

Core Alternative Capital reduced its position in shares of Reliance, Inc. (NYSE:RS) by 31.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166 shares of the industrial products company’s stock after selling 75 shares during the period. Core Alternative Capital’s holdings in Reliance were worth $45,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank lifted its position in shares of Reliance by 26.7% during the third quarter. Toronto Dominion Bank now owns 8,198 shares of the industrial products company’s stock worth $2,371,000 after purchasing an additional 1,729 shares in the last quarter. Assetmark Inc. raised its holdings in Reliance by 24.2% in the third 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 in the last quarter. Dearborn Partners LLC raised its holdings in Reliance by 4.1% in the third 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 in the last quarter. Pure Financial Advisors LLC raised its holdings in Reliance by 232.9% in the fourth quarter. Pure Financial Advisors LLC now owns 9,281 shares of the industrial products company’s stock valued at $2,499,000 after acquiring an additional 6,493 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in 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 valued at $36,963,000 after acquiring an additional 1,696 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RS has been the topic of several recent analyst reports. BMO Capital Markets cut their price target 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. KeyCorp cut their price target 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 began coverage on shares of Reliance in a report on Monday, December 2nd. They issued a “neutral” rating and a $341.00 price target on the stock. Finally, Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $328.17.

Reliance Stock Up 2.8 %

Shares of NYSE:RS opened at $291.07 on Tuesday. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 15.98 and a beta of 0.91. Reliance, Inc. has a 1-year low of $256.98 and a 1-year high of $342.20. The company’s fifty day moving average is $283.79 and its two-hundred day moving average is $289.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 3.31.

Insiders Place Their Bets

In other news, CEO Karla R. Lewis sold 3,892 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 85,117 shares in the company, valued at approximately $27,569,396.30. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by corporate 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.