Reliance, Inc. (NYSE:RS) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lessened its stake in shares of Reliance, Inc. (NYSE:RS) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,527 shares of the industrial products company’s stock after selling 384 shares during the period. Foster & Motley Inc.’s holdings in Reliance were worth $3,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Reliance by 4.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,240 shares of the industrial products company’s stock worth $926,000 after purchasing an additional 134 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Reliance in the second quarter worth about $3,073,000. Handelsbanken Fonder AB boosted its position in Reliance by 26.5% during the third quarter. Handelsbanken Fonder AB now owns 14,781 shares of the industrial products company’s stock worth $4,275,000 after acquiring an additional 3,100 shares during the last quarter. GAMMA Investing LLC grew its stake in Reliance by 19.1% during the 3rd quarter. GAMMA Investing LLC now owns 697 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 112 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Reliance by 3.1% in the 3rd quarter. Fulton Bank N.A. now owns 1,570 shares of the industrial products company’s stock valued at $454,000 after acquiring an additional 47 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Arthur Ajemyan sold 6,332 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $318.18, for a total transaction of $2,014,715.76. Following the transaction, the chief financial officer now directly owns 9,245 shares in the company, valued at approximately $2,941,574.10. This trade represents a 40.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William A. Smith II sold 6,500 shares of Reliance stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $321.71, for a total transaction of $2,091,115.00. Following the completion of the transaction, the senior vice president now directly owns 16,849 shares in the company, valued at $5,420,491.79. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,724 shares of company stock valued at $5,366,450. 0.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Reliance Stock Performance

NYSE:RS opened at $292.93 on Thursday. Reliance, Inc. has a 12 month low of $256.98 and a 12 month high of $342.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 1.58. The firm has a market capitalization of $15.85 billion, a PE ratio of 16.09 and a beta of 0.91. The business’s fifty day moving average price is $289.12 and its 200 day moving average price is $290.29.

Reliance 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.