Moloney Securities Asset Management LLC Sells 969 Shares of Reliance, Inc. (NYSE:RS)

Moloney Securities Asset Management LLC trimmed its position in shares of Reliance, Inc. (NYSE:RS) by 27.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,574 shares of the industrial products company’s stock after selling 969 shares during the period. Moloney Securities Asset Management LLC’s holdings in Reliance were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Reliance during the third quarter valued at approximately $41,000. Versant Capital Management Inc grew its position in Reliance by 157.8% in the 4th quarter. Versant Capital Management Inc now owns 214 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 131 shares during the last quarter. UMB Bank n.a. increased its stake in Reliance by 27.0% in the third quarter. UMB Bank n.a. now owns 249 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 53 shares during the period. Brooklyn Investment Group bought a new stake in shares of Reliance during the third quarter worth $78,000. Finally, Abound Wealth Management lifted its position in shares of Reliance by 35,700.0% during the fourth quarter. Abound Wealth Management now owns 358 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 357 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Reliance Stock Performance

Shares of RS stock opened at $282.96 on Monday. The business has a fifty day moving average of $284.36 and a 200 day moving average of $289.39. Reliance, Inc. has a 1 year low of $256.98 and a 1 year 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 $15.31 billion, a price-to-earnings ratio of 15.54 and a beta of 0.91.

Insider Buying and Selling

In related news, CEO Karla R. Lewis sold 3,892 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $323.90, for a total value of $1,260,618.80. Following the completion of the transaction, the chief executive officer now directly owns 85,117 shares in the company, valued at $27,569,396.30. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Reliance in a report on Monday, December 2nd. They set a “neutral” rating and a $341.00 price objective for the company. Wolfe Research raised shares of Reliance from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. KeyCorp dropped their price objective on Reliance from $325.00 to $321.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets decreased their target price on Reliance from $340.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Five equities 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, Reliance presently has an average rating of “Hold” and an average price target of $328.17.

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.